Sony reportedly preparing for PlayStation 5 Pro release in the second half of 2024 ahead of GTA VI launch, claim analysts

Amidst shrinking sales projections, Sony is reportedly gearing up to unveil an upgraded iteration of its PlayStation 5 - the PlayStation 5 Pro, within the second half of 2024, as indicated by insights shared with CNBC. This move aims to reignite consumer interest in the flagship gaming device and synchronize with the forthcoming release of the much-awaited Grand Theft Auto VI in 2025, analysts suggest.

Despite rolling out incremental upgrades last year, including a modestly enhanced PS5 model and the unveiling of the portable PlayStation Portal, industry insiders speculate a more substantial overhaul with the anticipated PS5 Pro release.

Previously leaked information by RedGamingTech hints at Sony's experimentation with AMD's "Viola" APU featuring an 8-core Zen 2 CPU and an RDNA 3-based GPU with 60 CUs clocked at 2.5 to 2.8 GHz. Furthermore, the PlayStation 5 Pro could boast a substantial memory upgrade, with rumors pointing towards 16 GB of GDDR6 memory operating at a brisk speed of 18 Gbps. 

“There seems to be a broad consensus in the game industry that Sony is indeed preparing a launch of a PS5 Pro in the second half of 2024” - Serkan Toto, CEO of Tokyo-based Kantan Games, told CNBC.  “And Sony will want to make sure to have a great piece of hardware ready when GTA VI hits in 2025, a launch that will be a shot in the arm for the entire gaming industry.”

Having debuted in November 2020, the PlayStation 5 now stands as a seasoned contender in the gaming market, clocking over 3 years since its inception. However, recent financial disclosures reveal a downward correction in sales projections for the current fiscal year, dropping from an initial estimate of 25 million units to a revised target of 21 million units, with profit margins within Sony's gaming division reportedly stagnating at decade-low levels. 

George Jijiashvili, a senior principal analyst at Omdia, suggests that this profitability conundrum may deter Sony from implementing the traditional tactic of cutting prices for the existing PS5 model, as seen in past console iterations.

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