Sony Corp. has cut its estimated PlayStation 5 production for this fiscal year by 4 million units, down to around 11 million, following production issues with its custom-designed system-on-chip for the new console, according to people familiar with the matter. Sony shares erased gains and were down as much as 3.5% in the wake of the news, their biggest intraday drop since August. Sony is widely expected to reveal its own launch and pricing plans for the PlayStation 5 during an official video presentation scheduled for Wednesday. Sony started the year with conservative manufacturing plans for the PS5, and it has been grappling with the issue of how to price its upcoming console refresh. Nintendo Co. plans an upgraded version of its Switch console, equipped with better components and potentially 4K output, for 2021.

Source: Mint September 15, 2020 02:37 UTC