Sony Confirms PS5 is Still on Track to Launch in 2024

The coronavirus pandemic has caused major disruption to supply chains around the world and thrown doubt over hardware product launches. Concerns over the PlayStation 5 launching on time have been quashed this week, though.

Sony just released its end of year financial report and with it confirmed that the PS5 is launching this year. The report states, “Regarding the launch of PlayStation, although factors such as employees working from home and restrictions on international travel have presented some challenges in regards to part of the testing process and the qualification of production lines, development is progressing with the launch of the console scheduled for the 2024 holiday season.” In other words, we’re getting Sony’s new console before January hits.

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The other question to answer is how many of the planned PS5 titles will be available for the launch and post-launch periods? Sony has an answer for this, too, with the report stating, “At this point in time major problems have not arisen in the game software development pipeline for Sony’s own first-party studios or its partners’ studios.”

We already know that Sony will have PS5-only launch titles, so this is good news for enticing early adopters of what could be an expensive games console, and one that Microsoft is determined to undercut. That’s especially true considering Microsoft is far less certain about having games ready for the Xbox Series X launch.

The report also highlights how Sony’s current gen console is performing. The good news is, the PS4 has now sold 110 million units, edging it ever closer to the Game Boy/Game Boy Color total of just under 119 million units, but still way behind the PS2 with over 155 million.

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The bad news for Sony is, revenue last year for gaming was 14 percent lower year-on-year. As you might expect, Sony is selling less hardware and software as the PS4 starts to enter the last phase of its lifetime and gamers look toward the next-gen machines.