Sony Will Reveal More Details About PlayStation 5 In August

In a new report from Bloomberg, an official at the PlayStation team said that Sony’s next update on the PlayStation 5 will arrive later this month. It is expected that the Japanese tech giant reveals the price of the PlayStation 5 and explains some of the key features of the console.

COVID-19 has been a disastrous scenario for the video-games industry, however, PlayStation has reported profits for the Q1 of the financial year. Sony’s profits are around 228 billion yen ($2.15 billion), Sony forecast that the current financial year will end with profits of 620 billion yen.

Sony also reports that the PlayStation Plus service has now 3.4 million new subscribers, the service now counts with 44.9 million users.

In the same report from the news outlet, Macquire Capital’s analyst Damian Thong expects the discless PlayStation 5 to be sold for $400, while the blu-ray PlayStation 5 to be sold at $500, he also forecast Sony selling over 6 million units by the end of March 2021. Interestingly he suggested that PlayStation 5 will be backward compatible with physical PlayStation games.

“With backward compatibility, their existing game library will work with the new console, so the new machine would be usable right away.”

Back in May, Wedbush Securities analyst Michael Pachter forecasted PlayStation to be sold at a $500 retail price. Insiders suggest that PS5 is set to launch on Japan on November 14, a worldwide launch will take place on November 20. The insider also claims that the console will cost $500.

In recent PlayStation news, the company is doubling the production of PlayStation 5 consoles, ahead of an increase in demand of the next-gen console. The tech giant also acquired a minority share of Epic Games.

Sony Corp has reportedly asked their manufacturing plants and associates to “radically” increase the orders for the next-gen console. Sony initially planned to produce 5-6 million units by the end of March 2021.

Source: Bloomberg

Stay tuned at Gaming Instincts via Twitter, YouTube, and Facebook for more gaming news.