Sony says it expects PlayStation 5 sales to gradually decline over the next fiscal year, which runs from April 2024 to March 2025, and has confirmed that it has no plans to release any major games in its franchises during this 12-month period, VGC writes.

In the company’s financial statements for the three months ended December 31, 2023, Sony’s gaming division reported another record quarter in terms of revenue, with total PS5 sales reaching 54.7 million.

Sony Interactive Entertainment planned to sell 25 million PS5s in the current fiscal year ending March 2024. However, in the last quarter, it sold 8.2 million consoles, bringing the total for the year to 16.4 million. The company said it now expects to fall short of its original target by 4 million units (21 million).

The corporation expects sales in the Games and Network Services segment to reach 210 billion yen for the year, down 5%, which it says is partly due to lower sales and higher losses due to promotions.

“Partially due to entering the latter half of the console cycle, we’re aiming to optimise sales with a greater emphasis on balance with profits. So we expect a gradual decline in unit sales from next fiscal year onwards. Regarding first-party software, we aim to continue to focus on producing high-quality productions and producing live service games. But while major projects are currently under development, we do not plan to release any new major existing franchise titles next fiscal year like God of War: Ragnarok and Marvel Spider-Man 2,” said Hiroki Totoki, President, Chief Operating Officer and Chief Financial Officer of Sony.