Sony slashes PlayStation 5 outlook

Sony (NYSE:SNE) fell 2.2% in Japan on the news that the Company is reducing its estimated production for PlayStation 5 gaming console by 4M units for fiscal year, reported Bloomberg.

The reduced outlook was related to production issues with the custom-designed system-on-chip (SOC) for the console.

Bloomberg said the Company has been facing manufacturing issues, with production yields as low as 50% for its SOC.

The latest development comes as Sony gears up for its next-generation console battle against Microsoft.