PS5 Pro Might Debut in Late 2024, But Will It Boost Console Sales Soon?

Joseph Henry, Tech Times 20 February 2024, 11:02 am

Analysts have indicated that Sony is poised to introduce a PlayStation 5 Pro later this year, aiming to invigorate interest in the PS5 as sales momentum begins to wane.

This anticipated "souped-up" version of the console could hit the shelves ahead of the highly anticipated release of Grand Theft Auto 6 in 2025, which is anticipated to drive significant console game sales. Although Sony has refrained from official comments on this matter, past patterns suggest a Pro version could be on the horizon.

Continuing Sony's Tradition

(Photo: Kerde Severin from Unsplash)
After PS5 Slim comes out in 2023, we might see another version with a "Pro" in its name, according to some analysts. The refreshed version might debut before GTA 6's release next year.

Sony has a history of releasing enhanced versions of its gaming consoles, exemplified by the launch of the PS4 Pro three years after the debut of the PS4. If the speculated PS5 Pro indeed materializes later this year, it would follow a similar timeline, arriving four years after the PS5's initial release in November 2020.

Analysts posit that Sony aims to ensure it has top-tier hardware ready for the anticipated blockbuster release of GTA 6 in 2025, which is anticipated to inject new vigor into the gaming industry as a whole.

Price Dynamics and Margins

Contrary to expectations, some analysts suggest that Sony may not slash the price of the current PS5 model even upon the introduction of the PS5 Pro. This decision could be attributed to various pressures on the company's margins.

Sony's top executive, Hiroki Totoki, recently shared candid insights into the PlayStation business, indicating that there's room for improvement in studios' efforts to curtail development costs. Additionally, Sony plans to enhance PlayStation game margins by extending its reach to non-PlayStation platforms like PC.

"There seems to be a broad consensus in the game industry that Sony is indeed preparing a launch of a PS5 Pro in the second half of 2024," Serkan Toto, CEO of Tokyo-based games consultancy Kantan Games, told CNBC.

Sales Forecast and Future Prospects

Sony has adjusted its sales forecast for the PS5 in the current financial year, revising it down from an ambitious 25 million consoles to 21 million. Despite this adjustment, the PS5 recorded a year-on-year increase in sales for the holiday quarter of 2023, rising from 7.1 million to 8.2 million units sold.

Sony has also disclosed its decision to withhold the release of major existing PlayStation franchise games until April 2025, effectively postponing sequels in popular series like God of War and Spider-Man.

In the Meantime: PS5 Slim

While fans await the potential arrival of the PlayStation 5 Pro, they can explore the option of purchasing the PS5 Slim, a sleeker iteration of Sony's flagship console. The PS5 Slim offers a compact and stylish alternative for gamers seeking the PlayStation experience in a more streamlined package.