Sony Group Corp SONY new PlayStation VR2 Headset is experiencing a sluggish launch as it is expected to sell fewer than 300,000 units in its first few weeks on the market, accordingly Bloomberg.

The Japanese console maker is expected to sell around 270,000 units of the PSVR2 between its February 22 release and the end of March, according to estimates by research firm IDC. This is a far cry from Sony’s original goal of producing around 2 million units for the PSVR2 launch window.

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Francisco JeronimoIDC’s Vice President of Data and Analytics told Bloomberg, “Consumers around the world are faced with rising living costs, rising interest rates and rising layoffs.

“I suspect a price drop for PSVR2 will be required to avoid a complete disaster of their new product,” he added.

The overwhelming sales figures for Sony’s latest VR headset suggested that at just a cent less than $550, it might struggle to convince consumers.

The headset is also dependent on the PS5 console, which starts at $400, and users will have to purchase games separately.

Sony is attempting to gain a foothold in the Metaverse with the PSVR2 as a crucial component of the company’s strategy to achieve that goal, but it appears the company will need to reconsider its approach to pricing and marketing in order to gain meaningful market share.

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Image: Courtesy of Sony.