For most, the year 2020 was not kind.
Fresh out of the oven, the PS5 was sought after by many, but obtained by few.
Whether gamers were looking to purchase a PS5 in-store or online, they were greeted by empty shelves.
This came to be known as the PS5 Shortage.
But, in 2023, is it finally over?
What Caused the PS5 Shortage?
There were a number of factors that contributed to the PS5 Shortage.
One of the biggest factors was the global semiconductor chip shortage.
The pandemic restrictions meant semiconductor manufacturers had fewer workers.
Not only did this impact supply, but this also meant manufacturers couldn’t ship their semiconductors as fast.
Semiconductor manufacturers also had to deal with increased demand.
It doesn’t stop there.
For many of us, this was video games.
This led to massive demand in the home entertainment market.
Having sold4.5 million PS5 consoles in 2020, Sony accounts for a portion of this sum.
Despite a global pandemic and supply chain issues, Sony’s sales were holding up quite well.
However, these consoles weren’t always ending up in gamers' hands.
Another contributing factor to the PS5 shortage was scalpers.
You probably had a better chance of winning the lottery than buying a PS5 at MSRP in 2020.
However, the Sony CES 2023 Press Conference (YouTube) has sparked hope in gamers around the world.
Jim Ryan also stated that Sony has sold a total of 30 million PS5 consoles worldwide.
At the beginning of December 2022, Jim Ryan announced that Sony had resolved long-term supply issues in Asia.
Is the PS5 Shortage Really Over?
The reality is, PS5s are still quite hard to come by.
Some PlayStation fans report that PS5s in their area are still unavailable, both in-store and online.
Jim Ryan’s announcement just means it will be a little easier in 2023.
If you are desperate and have the money, consider purchasing a PS5 as a bundle.
Otherwise, if you own a PS4, you may want to reconsider upgrading to a PS5.
