When Sony released its end-of-the-quarter figures on Feb. 14, 2024, the video game industry took notice. The company, known for its PlayStation consoles, had kept quiet about the future of its current flagship, the PS5, which launched in November 2020. But with rumors swirling about future releases from Sony's two main competitors, Microsoft and Nintendo, gamers were curious about the future of the PS5.
According to a news report first published in Bloomberg, even Sony executives had started to see the writing on the wall for the console, with senior vice president Naomi Matsuoka saying that "looking ahead, PS5 will enter the latter stage of its lifecycle."
While the PlayStation 5 is still the top-of-the-line in terms of video game consoles (in fact, Microsoft's recent business strategies might suggest Sony is close to winning the console war), Matsuoka's comment came in the wake of a rather large overprediction in sales.
In its report, the company announced that it was lowering its original goal of 25 million console sales in the fiscal year to 21 million after lower-than-expected numbers during the all-important holiday season. But that announcement isn't the only reason it's likely going to be a quiet year for Sony. The company also announced it would not release any games in existing first-party franchises until after April 2025.
So does that mean the PlayStation 6 is coming soon? Probably not. If the rumors about new Microsoft and Nintendo products in late 2024 are true, Sony might be forced to release something in response. But if the products turn out to be updated versions of the current hardware — the Xbox Series X/S and the Nintendo Switch line — then a smaller upgrade (like the recently released PS5 Slim) might hold the company over until it's time for the next generation of consoles.