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The PlayStation 5 Restock Problem Might Be About To Get Worse

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A leaked quote from a senior executive at Sony that it expects the PlayStation 5 shortage to last until 2022 has been met with jubilation by resellers, who are earning tens of thousands from desperate console buyers.

“Excellent news. [There’s] still easy money to be made and that news from Sony will cause people to become more desperate,” said Adam, who is a prolific PlayStation 5 reseller. He has bought and sold 10 PlayStation 5s at an inflated price so far.

Bloomberg recently reported that Sony’s Chief Financial Officer, Hiroki Totoki, told analysts after a financial results briefing that “I don’t think demand is calming down this year and even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn’t be able to catch up with demand.”

The PS5 is hard to find.

The Japanese company has sold 7.8 million PS5s (up until March 31st) and it plans to sell at least 14.8 million units in the current fiscal year. According to Bloomberg that puts the console on course to match the PS4s giant sales figures, which total 115.9 million to date. But severe chip shortages are stopping Sony from meeting demand. It’s not just consoles; cars, TVs, toothbrushes, washing machines and virtually any modern tech has also been impacted.

The complexity of creating semiconductors means last year’s Covid-19 shutdowns will take some time to rectify and meet demand. IBM’s president, Jim Whitehurst, said the current situation could go for another two years.

MORE FROM FORBESPlayStation 5 Scalpers Aren’t Happy With Their Public ImageBy Janhoi McGregor

This, of course, is good news for people raking in thousands from scalping. Another reseller I spoke with, Mike (not his real name), said he’d also sold 10 PS5 so far, from which he has made £2000 in profit. The only thing stopping him from selling more has been his university dissertation. Mike claims a university friend, who also resells, scooped up 30 consoles from UK retailer Argos, which dropped new stock late at night two weeks ago. A Telegram dedicated to stock updates that I follow confirmed that Argos released stock on May 11th between 1am and 3am, from which some users managed to buy the Sony console.

Almost all the resellers I’ve spoken with are either in their early 20s and/or students making money on the side. But Mike’s reselling efforts far exceed others I’ve spoken with. Screenshots he shared with me of his PayPal account show sales of over £60,000 in 2020. That’s not just consoles, rather in-demand sneakers, clothes and GPUs – specifically the hard to find Nvidia GeForce RTX 3090. Mike plans to put this money towards buying a house in London.

Adam is also enjoying the current scarcity of in-demand items. The leaked quote from Sony will keep resellers in business, as he explains: “It would’ve had little difference in price had Sony kept quiet but telling people this will just cause more demand and resellers now know that there isn’t going to be large restock frequency so their money is safe in PS5s.” He continued: “[the price] won’t go down, the news from Sony will only scare prospective buyers who now think if they don’t buy one now then they won’t have a chance later in the year.”

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Sami Mehmed, who runs a popular PS5 restock account, PS5 UK Stock Alerts, says more people are joining for alert news. “We have been gaining followers, however drops have been more scarce than ever, especially last month…because of the lack of drops there are more people coming in to get alerts.”

Battling PS5 resellers was already difficult before the leaked Totoki quote. There are dedicated groups that monitor stock updates using a system called Street Merchant, and employ bots to scoop up as many consoles as possible. The bots can bypass 3D secure – an additional layer of security which verifies that the buyer is the legitimate card owner – on a retailer’s website and checkout the console in under 3 seconds. Few humans can compete with that. Read more about the tactics resellers use to buy stock here.

But, until recently, resell market StockX previously told me that PS5 resell prices were levelling off, dropping by 20% since November when the console was released. It’s too early to tell if Totoki’s comments will change that, or if more flagship games like Returnal increase demand, but scalpers currently holding stock are betting it will.

Follow me on Instagram for more tech news and updates.

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GAMES

The Xbox September Update Rolls Out Today

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Summary

  • Customizable Xbox button color on the Xbox Elite Wireless Controller Series 2
  • Xbox Elite Wireless Controller Series 2 – Core in white is available today!
  • Easy access to all your games and apps with a full library revamp on Xbox consoles
  • New storage and default install options on Xbox consoles

Team Xbox is excited to continue bringing new ways to make Xbox better, with you at the center, as we refine the experience and deliver brand new features based on your feedback. This month’s update offers customizable Xbox button colors on the Xbox Elite Wireless Controller Series 2, easy access to all your games and apps with a full library revamp, new storage and default installation options, and more. If you play on Windows 11/10 PCs, you’ll be able to share your epic moments with Xbox Game Bar. Xbox party chat noise suppression is rolling out to Xbox One consoles and Windows 11/10 PCs. Plus, the new Party Now feature lets you quickly set up parties on the Xbox app on Android and iOS.


Customize the Xbox button color on your Xbox Elite Wireless Controller Series 2


Providing fans with choice and opportunities to express themselves is a core part of our mission. That’s why we are excited to announce color customization for the Xbox button on Xbox Elite Series 2 controllers! Choose from a wide array of colors that combine red, blue, and green LEDs to produce over 16 million hues of light.

To configure the Xbox button color settings, open the Xbox Accessories app on your Xbox console or Windows PC while your controller is connected. From there, choose an existing profile or create a new one, then select the Color tab to see the full range of color options for the Xbox button. You can change the brightness, opting for a low-key glow rather than the traditional shine. Use the Custom menu sliders to see the full rainbow of color options. Don’t see the exact color you want? Don’t worry, this menu also offers Hex Code support, allowing for the precise color you’re after. You’ll need the latest version of the Xbox Accessories app and the Xbox September update to customize your Xbox button color. If you don’t see the option to choose your color, try restarting your Xbox console by navigating to Settings > General > Sleep mode and startup > Restart now to get the update.


The Xbox Elite Wireless Controller Series 2 – Core in white is available today


If you don’t currently own an Elite Series 2 controller and want to take advantage of changing your Xbox button color, consider picking up the new Xbox Elite Wireless Controller Series 2 – Core in white. It’s designed to meet the core needs of today’s competitive gamers, putting exceptional performance, customization, and durability where it matters most — in your hands. Experience adjustable-tension thumbsticks, wrap-around rubberized grip, and shorter hair trigger locks. Enjoy extensive customization with exclusive button mapping options in the Xbox Accessories app. Stay in the game with up to 40 hours of rechargeable battery life, which varies with usage and other factors, and refined components that are built to last. Add even more customization to the Elite Series 2 – Core or replace components on other Elite Series 2 models with the Complete Component Pack.

The Xbox Elite Wireless Controller Series 2 – Core in white and the Complete Component Pack are available today in select Xbox markets worldwide for $129.99 USD MSRP and $59.99 USD MSRP, respectively. Visit Xbox.com or your local retailer, including Microsoft Store, for more information.


Full library revamp on Xbox consoles means easier access to all your games and apps


Now it’s easier and faster to find all your games on your Xbox Series X|S and Xbox One consoles. The My games and apps Full library view has been redesigned to streamline access to all games you have access to install and play. All games now shows all the games you own as well as any games you have access to with your current Xbox subscriptions, including Xbox Game Pass, EA Access, and claimed Games with Gold. You also get easy access to catalogs of your subscriptions, editorial content, and all your apps.

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Select storage locations for your games and apps on Xbox consoles


Starting today, you can select different default installation locations for all your games and apps on your Xbox Series X|S and Xbox One consoles. By providing separate default installation locations for different types of games, you can most effectively use your storage space and manage game installs.

In the settings for storage devices, select Change installation locations if you have external drives or a storage expansion card attached. You can select a specific drive as an installation location, or “Let Xbox decide” where to install the content for the fastest drive with available space.

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Sharing with Xbox Game Bar on Windows PCs


Xbox Game Bar works with most PC games, giving you instant access to widgets for screen capture and sharing, finding new teammates with LFG, and chatting with Xbox friends across Xbox console, mobile, and PC—all without leaving your game.

Xbox Game Bar now allows you to get a shareable link for any capture you want. Share your captures anywhere – SMS, WhatsApp, Twitter, Messenger, and more. If your settings are set to Public, anyone who gets your link can see your shared captures.

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While playing a game, press the Windows logo key + G on your keyboard to open Xbox Game Bar. If you have an Xbox controller plugged in to your PC, press the Xbox button.

You can click Copy link at the bottom of any selected gaming capture in the Xbox Game Bar gallery, which uploads the capture (if not uploaded already) and provides the shareable link once upload is completed.

Xbox Game Bar Asset

Party chat noise suppression, now on Xbox One consoles and Windows 11/10 PCs


Last month we announced party chat noise suppression on Xbox Series X|S consoles. This month, we’re rolling it out to Xbox One consoles and Windows 11/10 PCs. If you use party chat, you may notice fewer unwanted noises and interruptions than before. Noise suppression helps remove noises like gamepad clicks, breathing, and background noise from your parties. 

If you want to keep some types of background noise like music in your parties, you can also turn noise suppression off. On Xbox consoles, just open the guide, scroll to Parties & chats, and select Options. There you can enable or disable noise suppression. And on Windows 11/10 PCs, go to Start a party, open Settings > Party audio, and enable or disable noise suppression from there.

Party Chat Noise Suppression Asset

Set up parties with your friends in a snap in the Xbox app


The new “Start party” button in the Xbox app makes it easy to jump right into the game with your friends. Now there’s no need to create a party from scratch each time you want to get your friends together.

To get started, look for the new Parties option on the Social tab. You’ll see a list of all your recent parties, from which you can restart a party or create a new one. You can also easily select which friends you want to invite.

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Help shape the future of Xbox


Stay tuned to Xbox Wire for future updates and all the latest and greatest Xbox related news. For support related to Xbox updates, visit the official Xbox Support site.

We love hearing from the community, whether you have a suggestion for a new feature that you’d like to see added or you want to give feedback on existing features that could use some improvement. From game capture and share improvements, to helping games load faster, new ways to connect with your gaming community, and so much more, we’re always listening and looking for ways to improve Xbox experiences for gamers around the world.  If you’d like to help create the future of Xbox and get access to features like Xbox Cloud Gaming (Beta), download the Xbox Insider Hub on your Xbox Series X|S, Xbox One, or Windows PC today. Let us know what you think – we’re always listening!

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