Sony Hits Pause on PS VR2 Production as Unsold Inventory Piles Up 375w6j Technology News

Sony has produced well over 2 million units of PS VR2 launched in February of last year, the people said. 3tp32

By Takashi Mochizuki, Bloomberg | Updated: 18 March 2024 15:36 IST

Sony Hits Pause on PS VR2 Production as Unsold Inventory Piles Up

Photo Credit: Sony 1q2zl

PlayStation VR2 was released in February 2023

Highlights

PS VR2 shipments have declined every quarter since its debut
Sony shut down its PlayStation London division last month
The company is testing the ability for PS VR2 players to access PC titles

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PS VR2 headset until it clears a backlog of unsold units, according to people familiar with its plans, adding to doubts about the appeal of virtual reality gadgets.

Sales of the $550 wearable accessory to the PlayStation 5 have slowed progressively since its launch and stocks of the device are building up, according to the people, who asked not to be named as the information is not public. Sony has produced well over 2 million units of the product launched in February of last year, the people said.

PS VR2 shipments have declined every quarter since its debut, according to IDC, which tracks deliveries to retailers rather than consumers. The surplus of assembled devices is throughout Sony's supply chain, the people said. Still, IDC's Francisco Jeronimo sees a recovery for the product category in coming years with the help of Apple's entry. “We forecast the VR market to grow on average 31.5 percent per year between 2023 and 2028,” he said.

PS VR2 Will Get for PC VR Games Later This Year, Sony Says

Alongside Vision Pro headset, as it made its debut without tailored apps from key entertainment platforms Netflix and Alphabet's YouTube.

Sony did not respond to requests for comment.

Tokyo-based Sony last month announced it's shutting down its Horizon Call of the Mountain.

PS VR2 Now Available in India, Horizon Call of the Mountain Bundle Announced

“The high price of VR hardware acts as the main hurdle for its expansion,” said Macquarie analyst Yijia Zhai. “Currently, there are limited games that VR devices, and that will also lead to lack of motivation for players to purchase VR hardware. This limited content also has a reason – the development cost for VR games is substantially higher than normal titles.”

Sony is still working on expanding the range of material available on the headset, and it said in February that it's testing the ability for PS VR2 players to access PC titles.

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