The virtual reality landscape may be shifting, with Sony, a major player in the space, acknowledging some obstacles. In a recent Financial Times interview, Eric Lempel, Head of Global Business at Sony Interactive Entertainment (SIE), characterized VR as “a bit of a challenging category right now.” While acknowledging that PS VR2 sales are “going well,” he indicated that the overall VR market presents complexities.
Key Highlights:
- Sony describes VR as “a bit of a challenging category right now” despite PS VR2 sales being “going well.”
- Higher expectations than sales reality contribute to the perceived challenge.
- Commitment to VR remains, but focus on PS5 as core proposition.
- Industry analysts offer varying perspectives on VR’s future.
Several factors contribute to this perceived challenge. Lempel suggests that initial expectations for VR’s impact on gaming may have been overly optimistic. Additionally, VR hardware, including PS VR2, carries a higher price tag compared to traditional gaming peripherals, potentially limiting its reach to a broader audience. Furthermore, the content library for VR platforms, while steadily growing, remains smaller than traditional console libraries, potentially impacting purchase decisions.
Despite these challenges, Sony remains committed to VR. Lempel reaffirmed the company’s dedication to developing VR products, highlighting their investment in PS VR2 and its technological advancements. However, he also emphasized that PS5 currently serves as the “core proposition” for SIE, indicating that VR might not be the immediate focus.
Industry analysts offer mixed perspectives on VR’s future. Some, like Piers Harding-Rolls from Ampere Analysis, remain optimistic, noting the promising advancements in VR technology and potential for growth in areas like fitness and enterprise applications. Others, like Michael Pachter from Wedbush Securities, express cautious optimism, emphasizing the need for a compelling content library and wider adoption before VR truly takes off.
While Sony acknowledges VR’s challenges, it remains a key player in the game. PS VR2’s advanced features and exclusive titles like Horizon Call of the Mountain could attract dedicated PlayStation gamers and contribute to VR’s overall growth. Additionally, Sony’s expertise in hardware and software development positions them to play a significant role in shaping the future of VR technology and experiences.
Technological innovations and expanding content libraries continue to fuel VR’s potential, and companies like Sony remain invested in its future. While VR’s path may be winding, its ultimate destination remains to be seen.
