Sony recently implemented a significant price drop for the PS5, reducing its price to £399 in the UK. While Sony’s COO initially reported that the response to the price drop in the UK was “a bit weak,” official sales data from market research company GfK suggests otherwise.
According to GfK data, the weeks following the PS5 price drop have seen strong hardware sales in the UK. In the first week, there was a 71% increase in PS5 hardware sales, followed by a further 59% boost in the second week. This data contradicts Sony’s initial assessment of the UK market’s response to the price drop.
Sony’s COO, Hiroki Totoki, also mentioned during an earnings call that while global sales of the PS5 were strong, they fell somewhat short of the expected progress toward the annual sales target of 25 million units. However, Totoki expressed optimism about improving sales momentum due to promotions and upcoming software releases.
In particular, Totoki mentioned upcoming titles like “Marvel’s Spider-Man 2” and other major third-party games that could potentially drive PS5 sales.
The strong hardware sales in the UK following the price drop indicate that the reduced pricing strategy has resonated with consumers, contributing to increased demand for the PS5 in the region.
