An analyst has predicted that the PS5 will launch in the “next fiscal year,” pointing to “slowing growth in [Sony’s] games division” as the reasoning behind Sony transitioning to the next console generation. The news comes after Sony revealed a slump in earnings in its gaming and mobile sectors, with CFO Hiroki Totoki saying the drop to 8.1 million consoles sold in Q4 2018 was “meeting [Sony’s] expectations for a console entering its sixth year.”
Profits for Sony’s gaming sector fell by 14 percent, with the company lowering its projections for the current financial year to 8.5 trillion yen, down from 8.7 trillion yen. Its shares also suffered a major decline, tumbling down to 8 percent in the largest fall for the company since 2015. Its declining gaming profits were also coupled by struggles in the mobile and camera sectors, with many of its consumer electronics divisions suffering.
There has been much speculation over the PS5 release date, though thus far Sony has remained tight-lipped. However, this latest revelation has caused analysts to strongly predict that Sony will soon announce the upcoming console, in a bid to revive its falling shares and please investors.
Asymmetric Advisors analyst Amir Anvarzadeh said (via The Guardian): “There is more downside as we believe slowing growth in its games division signals a very likely PS5 launch for next fiscal year and the ensuing costs that come with the launch of a new platform.”
Sony is skipping out on E3 2019, an expo that console manufacturers typically use to show off their upcoming games and hardware. It’s predicted that Sony will instead hold its own PS5 reveal event at some point this year, presumably after E3. Sony previously declined to hold a PlayStation Experience event in 2018, citing a lack of new announcements as its reasoning. Many have speculated that the PlayStation Experience 2019 will serve as the stage for the PS5 reveal.
Microsoft has already dropped several hints as to what consumers should expect from its next Xbox, including game streaming that allows console-quality games to be played on phones. Microsoft hasn’t officially revealed the console, though it is also expected to launch in 2020.