The Japanese manufacturer Sony’s stock is in turmoil after announcing that it will deliver 4 million units less of its latest PlayStation 5 by the end of the fiscal year, citing manufacturing problems, according to Bloomberg.
- Sony is down 2.41% on Tuesday, after declining more than 3% during the same trading session.
- The electronics manufacturer is facing issues with its production and may not ship the promised 11 million units of its latest gaming console product by the end of this fiscal year.
- The current market’s focus is on both pricing and the pipeline of games, Sony’s biggest competitor being Microsoft’s XBOX .
The PlayStation 5 is set to be released “in time for the looming 2020 holiday season”, according to company officials.