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PlayStation 5 Sales Plummet, Sony Takes $765M Hit
Description
Sonys PlayStation five sales plummet, dropping 46% year over year, with just 1.5 million consoles sold. The company blames global economic issues, memory chip shortages, and supply chain problems. Microsofts Xbox and Nintendos Switch also face challenges, with Microsofts hardware revenue crashing 33% and Nintendo hiking Switch prices. Sony also took a $765 million hit writing down Bungie, the studio they bought for $3.6 billion. As memory costs persist and the market cools, Sony is expected to focus on software wins to stabilize their position.
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