Sony Group Corp (NYSE:SONY) has reportedly slashed its forecast for shipments of the PlayStation VR2 scheduled to go on sale on Feb. 22.
What Happened: Sony has reduced the production of its much-hyped PlayStation VR2, given its pre-orders were much lower than anticipated, reported Bloomberg.
See Also: Sony’s PlayStation 5 Shortage Is Over: More Than 30 Million Units Sold
Sony was previously aiming to have two million headsets ready for the launch, but now it has halved its forecast for this quarter, said people familiar with the deliberations.
The company now plans to ship approximately 1.5 million VR2 units between April 2023 and March 2024, although this figure is subject to adjustment with respect to demand.
Sony has informed a supply partner to expect relatively fewer display panel orders than what was forecast previously.
Why It’s Important: The drop in demand comes at a time when the VR industry is already struggling.
Meta Platforms Inc. (NASDAQ:META) Quest 2 sales dropped significantly after the tech giant raised the product’s price. Similarly, Microsoft Corporation (NASDAQ:MSFT) has decided to cut back its AR/MR headset HoloLens goggles, the report noted.
Although, Apple Inc. (NASDAQ:AAPL) is expected to launch its first-ever MR headset in Spring this year. It is yet to be seen how the VR industry's changing dynamics will impact the launch of the Cupertino-based giant’s latest flagship product.
Sony has previously indicated that the PlayStation VR2 headset and Sense Controllers will be available at a price of $549.99.
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