The global chip shortage, which began in 2020 and impacted various industries, including car manufacturing and credit cards, had led to extended waiting times and high prices for the PS5. Sony now claims that its supply chain issues are entirely resolved worldwide, making the console readily available and possibly leading to retailer competition. Additionally, Sony has revamped its PlayStation Plus subscription service, introducing cloud gaming for PS5 games.
Sony has announced a breakthrough in resolving the supply chain issues that had plagued the PlayStation 5 (PS5) for three years. These problems were primarily a result of the global chip shortage that commenced in 2020 and affected numerous industries, ranging from automobile manufacturing to credit card production.
During the period of supply chain disruption, customers endured month-long waits for the highly sought-after PS5. Some even resorted to queuing outside stores overnight, while others were forced to pay exorbitant prices to resellers. However, the situation has steadily improved throughout 2023, culminating in Sony’s declaration that its supply chain issues are now completely resolved on a global scale.
This significant development not only ensures that the PS5 is readily available but also hints at the possibility of a surplus, leading to heightened competition among retailers for sales.
In addition to the supply chain success, Sony’s CEO, Eric Lempel, announced a redesign of the PlayStation Plus subscription service. The update includes the integration of cloud gaming for PS5 games, offering players the ability to cloud stream many of the games they already own digitally. This move aligns Sony with its competitors, such as Microsoft, which offers a similar streaming service, Game Pass, for select games.
While Sony focuses on its hardware, including the upcoming release of a smaller PS5 model, Microsoft has recently unveiled a cost-effective Xbox console deal bundled with three months of its subscription service.
The impact of the global chip shortage was felt throughout the gaming industry, with scalpers selling PS5 units at double their retail price in 2022. Despite this, the console’s retail price even increased by £30 in stores. Sony’s successful resolution of supply issues marks a turning point for the PS5, potentially leading to more accessible availability for eager gamers worldwide.