Sony to release a ‘Pro’ version of the PlayStation 5 this year

Sony to release a ‘Pro’ version of the PlayStation 5 this year is profiled by BTW Media because published evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

• Sony may release a PlayStation 5 Pro after lowering PS5 sales expectations, aiming to boost interest and prepare for the release of “Grand Theft Auto 6” in 2025.
• Analysts anticipate the Pro version’s launch in late 2024, though Sony hasn’t confirmed.
• Despite high anticipation, Sony faces profitability challenges in its gaming business, possibly impacting PS5 Pro’s pricing strategy and sales performance.

According to CNBC, analysts reveal that Sony may release an upgraded version of its flagship gaming console, PlayStation 5, this year after lowering its sales expectations. The move aims to boost interest in PS5 and provide more powerful hardware for the anticipated release of the game “Grand Theft Auto 6” in 2025. Sony has not responded to this report.

Sales of PS5 is expected to decline

Launched in November 2020, PS5 has been on the market for over 3 years. Last week, Sony lowered its sales forecast for PS5 for the fiscal year ending March 2024 from 25 million units to 21 million units, expecting sales to gradually decline from the next fiscal year.

In past console lifecycles, gaming companies have often boosted sales by releasing upgraded hardware, such as Sony’s introduction of the “Pro” version of the previous generation console, PS4, about three years after its launch. Analysts now anticipate Sony to launch PlayStation 5 Pro.

Also read: PS5 hits 50 million sales, overcoming supply chain issues

PS5 Pro will welcome the release of ‘Grand Theft Auto 6’

Serkan Toto, CEO of Tokyo-based gaming consultancy Kantan Games, said, “The gaming industry generally believes that Sony will launch the PS5 Pro in the second half of 2024. With the release of ‘Grand Theft Auto 6′ in 2025, Sony hopes to have strong hardware to welcome this game that will boost the entire gaming industry.”

Last year, Sony introduced a slightly upgraded PS5 and a streaming handheld device called PlayStation Portal, but PS5 Pro is expected to bring more significant upgrades. Despite increasing expectations from players for the new console, Sony faces a major challenge: the profitability of its core gaming business is nearing a decade-long low.

During the earnings conference call, Sony management stated that the goal of its gaming business is to “optimise sales, with more emphasis on balancing profits.” George Jijiashvili, Senior Principal Analyst at Omdia, suggested that this could mean Sony may not reduce the price of the existing PS5 even with the release of PS5 Pro. Jijiashvili said, “Therefore, there is a high possibility that Sony will release PS5 Pro, but hardware sales may still decline year-on-year.”