Analysts expect Sony to produce a PlayStation 5 ‘Pro’ this year after reducing outlook.

According to analysts, Sony is almost certainly going to introduce an updated version of the PlayStation 5 this year. This comes after the firm reduced its projections for sales of its flagship platform.

According to the experts, the move would be intended to increase interest in the PlayStation 5 and provide a piece of hardware that has been upgraded in preparation for the arrival of Grand Theft Auto VI in 2025. One of the most eagerly awaited titles of this decade is Grand Theft Auto VI.

The PlayStation 5, which was initially introduced to the public in November 2020, is now more than three years old. This past week, the Japanese gaming giant reduced its projection for the number of PlayStation 5 systems it will sell during the fiscal year that will finish in March from 25 million units to 21 million units. Within the context of the company’s earnings call that took place the previous week, an official stated that Sony anticipates a “gradual decline” in unit sales beginning with the following fiscal year.

When something like this has occurred in previous console cycles, gaming companies have attempted to reintroduce a new piece of hardware to re-energize their sales strategies. As an illustration, around three years after the initial debut of the PlayStation 4, Sony introduced a “Pro” edition of the PlayStation 4, which was the console of the previous generation’s predecessor.

Analysts are now anticipating that Sony will release a PlayStation 5 Pro.

In an interview, Serkan Toto, CEO of Kantan Games, a games consultancy located in Tokyo, stated that there appears to be a widespread agreement among those working in the gaming business that Sony is planning to debut a PlayStation 5 Pro in the second half of 2024.

“And Sony will want to make sure that they have a great piece of hardware ready when Grand Theft Auto VI, which is scheduled to release in 2025, is released. This launch will be a shot in the arm for the entire gaming industry.”

As of this moment, Sony has introduced a PlayStation 5 that has undergone some minor improvements in addition to a portable system known as the PlayStation Portal. On the other hand, the PlayStation 5 Pro would most certainly be a far more significant upgrade.

Even as anticipation for a new console continues to grow, Sony is struggling with a significant problem: the fact that the profit margins at its primary gaming business are approaching the lowest levels seen in a decade.

A statement made by Sony’s management during the results call stated that the company’s gaming division had the objective of “optimizing sales with a greater emphasis on the balance with profits.”

According to George Jijiashvili, senior principal analyst at Omdia, this might imply that Sony would not reduce the price of the existing PlayStation 5 console, as has been the customary practice in the past, even after the release of the PlayStation 5 Pro software.

The statement made by Jijiashvili was as follows: “Therefore, a scenario in which Sony releases as PS5 Pro, but continues to see a declining year-on-year sale of hardware is very much in the realms of possibility.”