A simple transcription error led to substantial inaccuracies in Sony’s hardware production forecast.
SEE THE GALLERY – 2 IMAGES
A user on Looking for Alpha diligently transcribed Sony’s recent first-quarter earnings call to investors, and for the most part, the transcript is accurate. However sometimes there are small typos and sometimes these mistakes can have big consequences. Case in point: According to the transcript, Sony CFO Hiroki Totoki said there was “no change” to ship 80 million PS5s by the end of FY23.
It was a simple mistake. Totoki said 18 million, not 80 million. The latter is simply impossible even without the COVID-19 restrictions in place. Sony plans to ship 18 million PS5s through FY23, which is the biggest shipment target in PlayStation console history.
If Sony is able to meet its lofty shipment goal, PS5 Shipments Reportedly Hit 37.3 Million By March 2023 (Sony has shipped 2.4 million PS5s so far in FY23, leaving 15.6 million consoles remaining). That’s less than half of the 80 million mark that was previously reported… and it’s still less than the high point set by the PS4.
“At this time, we have made no changes to our forecast of 18 million unit sales for PS5 hardware in FY22, but since we are seeing a recovery from the impact of the lockdown in Shanghai and a significant improvement in component supply, we are working to bring more supply into the holiday season,” Totoki said in the earnings report.