Sony is discontinuing the sale of PlayStation 4 - here’s why

Sony PlayStation CEO John Kodera says the PS4 is nearing the end of its life cycle

Kodera made the comment at Sony Corporate's recent strategy meeting, which lets investors know the company's plans for the coming years.

Sony warned that sales were expected to slow to 16 million consoles this year, down from 19 million over the previous 12 months.

This despite the PlayStation business doing very well for Sony with over 80 million units sold since PS4’s debut in November 2013.

New console

Sony's PSN gaming network is also just as popular than ever, with some 80 million active users keeping revenue streams running along nicely.

However Kodera's comments do suggest a new console will be on the way soon.

Many analysts and reports have pegged the PS5 for a launch date ranging from 2019-2021. Kodera’s “March 2021” window suggests that the PS5’s launch could be closer to the end of that range.

Sony may need to start rethinking its VR and video streaming service strategies though, as both the PlayStation VR and Vue streaming service have failed to meet the company's expectations.

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