Due to China’s ongoing recovery from the COVID-19 pandemic, and many parts of the world still in the thick of it, many tech companies are bracing for impact on their short-term financial projections. This includes Sony, which has a new gaming console set for arrival towards the end of 2020. A report from Bloomberg stated that Sony Corporation is delaying its next financial earnings report, which was originally planned for April 2020. This is related to a dip in stocks, manufacturing issues, and other problems associated with the Coronavirus situation. But for now, nobody in the gaming community needs to worry about the PS5 launch, according to the company. [thanks, Bloomberg!]
As the world headed into February 2020 and things were still relatively normal, Sony Corp had actually increased its financial projections. This was a projected 40 billion yen increase, from 840 billion projected by October 2019, to 880 billion in early February. According to the Bloomberg report, Sony Corp hasn’t revised its forecast officially, but said it does expect it to drop. Manufacturing in the UK and Malaysia is totally shut down due to government-mandated lockdowns, and Chinese factories are only just getting back into operation. Since so much of Sony Corp’s business is consumer-oriented, the situation speaks for itself.
That said, a spokeswoman speaking to Bloomberg relayed current messaging on the PS5, which is planned for release towards the end of the year. As of right now, Sony Corp doesn’t expect a “notable” impact on those plans. Obviously that could change at any moment, but it makes sense that Sony Corp isn’t willing to call things off that far away, especially since Sony’s internal operations are still running, with its workforce telecommuting.
The PlayStation 5 is in development and will launch in 2020.
Published: Mar 27, 2020 11:00 pm