In March, Sony issued a statement addressing the effect of COVID-19 on the company. There, it mentioned that there wouldn’t be any delays regarding the release of PlayStation 5.
Now, Sony confirms that PlayStation 5 will release this holiday season. The company recently released its end of the year financial report. There it states that PlayStation 5 is “on track for launch this holiday season.”
However, Sony’s year-on-year revenue went down 14% compared to last year. The decline comes from lower hardware and software sales over the year.
Sony also faced a decline in multiple sections, including music and pictures due to the coronavirus pandemic.
However, they’re making slow and steady progress in the gaming world. As video game spending increases, Sony sees a significant increase in its downloadable software and subscriptions to PlayStation Now and PS Plus.
Regarding the software development, Sony says there haven’t been any significant problems for both its first-party studio or its partners’ studios.
Sony is also sneaky about the new PlayStation 5. Even though the specs, controller, and logo are revealed, the company is yet to show off the console’s design. And it’s also mum about any of its next-gen games. So, it’s highly likely that to increase the new console sales; it’ll prioritize some exclusive PS5 games.