Sony slashes PS5 sales target, plans 2025 IPO for financial unit

Tokyo: Japan’s Sony slashed the full-year sales forecast for its PlayStation 5 console on Wednesday and said it plans to list its financial business next year as it focuses on entertainment and image sensors.

Sony cut its PS5 sales forecast for the year ending March to 21 million units, from 25 million units previously, after weaker-than-expected sales over the year-end shopping season.

The company said it expects a gradual decline in unit sales from the next financial year and that it does not plan to release any major franchise titles in the coming fiscal year.