Sony Cuts The Production of PlayStation5

Sony has decided to cut down the production of PlayStation5  by 15 million. The target set by the company was 16 million but due to the shortage of semiconductors, it was cut down by one million. 

Sony had planned to sell 14.8 million PS5 in this financial year. Hiroki Totoki, the finance chief of Sony has said that the company’s earnings were hit last year by stay-at-home demand for the gaming devices during the covid-19 pandemic. The company is also planning to set up a chip plant in Japan with Taiwan Semiconductor Manufacturing Co (TSMC). The construction of the factory will start in 2022 and the production is targeted to start by the end of 2024.