PSVR2 headset needs price cut to “avoid a complete disaster” after disappointing launch sales

Sony’s PSVR2 is in hot water, after analysts have stated that the cutting-edge VR headset needs a price cut to “avoid a complete disaster” after selling through less than 300,000 units since launch.

We called Sony’s PSVR2 “A new era for console VR” in our review, but it appears the headset has not been a hit with consumers worldwide. A report from Bloomberg states that Sony has been projected to sell through 270,000 units of the headset since its launch. Sony allegedly expected to sell around 2 million units during the VR headset’s launch window.

We also reported that the PSVR2’s production numbers were cut prior to launch, which Sony later denied. So, these expectations could have been revised since Sony’s older projections for the headset. Regardless, it’s not good news for gamers who want to experience VR on their PlayStation 5. However, Sony still expects to sell around 5 million PSVR2 headsets over the course of the headset’s lifetime.

The big PSVR2 pricing problem

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Francisco Jeronimo, VP of data and analytics at analyst firm IDC commented: “I suspect a price cut on the PSVR2 will be needed to avoid a complete disaster of their new product“.

And it’s true, the price of entry to get a PlayStation VR2 setup is significantly more expensive that its main competitor, the Meta Quest 2, which has recently enjoyed a price cut on one of its SKUs. Right now, if you were to purchase a PSVR2, you would need over $1000 of equipment, whereas if you picked up the Meta Quest 2, you could pay as little as $399. However, the two headsets are a gulf apart when it comes to their technical specifications.

Jeronimo also said to Bloomberg that “VR headsets are not top of mind for most consumers under the current economic climate“. With HTC releasing a VR headset that currently retails for over $1000 in its Vive XR Elite, which has also been outflanked by Meta’s VR price cuts, you have to wonder if VR headsets will ever break through into the mainstream for gamers across the globe.

Trouble for first-party AAA VR games?

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Sony has also added VR support for titles like Gran Turismo 7, and has leveraged the brand strength of the Horizon franchise for the PlayStation VR2’s tentpole launch title, Horizon: Call of the Mountain. However, with these sales numbers in mind, it’s very possible that we won’t see many more big-budget, blockbuster PSVR2 titles developed by Sony-owned studios in the future.