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        <title><![CDATA[Sony shares dip after it reportedly cuts PS5 production by four million]]></title>
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            <media:title type="html">Sony shares dip after it reportedly cuts PS5 production by four million</media:title>
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        <content:encoded><![CDATA[<p>Investors sent shares of PlayStation maker Sony down on Tuesday amid reports that it&#8217;s cutting production of its new console by 4 million.</p><p>The Japanese gaming giant&#8217;s stock fell as much as 2.3 percent in early morning trading after <strong>Bloomberg reported</strong> that Sony had to reduce its outlook due to issues with the high-tech chips that will power its next-generation video game system.</p><p>The PlayStation 5 is one of the most hotly anticipated product of the coming holiday season, and will go head-to-head with Microsoft&#8217;s newest Xbox.</p><p>Sony, which had for months been engaged in a standoff with Microsoft over who would release pricing details for their next-gen console first, is expected to put a price tag on the PlayStation 5 <strong>on Wednesday</strong>.</p><p>Like the Xbox, the PlayStation 5 will come in two variants — a full-fledged console with a disk drive, as well as a cheaper version that will only play digital downloads.</p><p>Spanish retailer El Corte Inglés may have inadvertently leaked the console&#8217;s price, with <a href="https://twitter.com/AllGamesDelta_/status/1305129537471238145?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1305129537471238145%7Ctwgr%5Eshare_3&amp;ref_url=https%3A%2F%2Fwww.gamesradar.com%2Fps5-cost-may-have-been-leaked-by-spanish-retailer-ahead-of-ps5-event%2F">a photo</a> of the store&#8217;s internal systems showing a 499 euro price for the more expensive version and a 399 euro price for the all digital edition.</p><p>Reports last week suggested that Sony may have adjusted the pricing of the PS5,&nbsp;which European blog <strong>Gamereactor reported</strong> was “considerably” higher than the prices Microsoft announced for its two new consoles.</p><p>Microsoft last week revealed that its top-tier Xbox Series X would cost $499, while the <strong>budget Series S</strong> would retail for a wallet-friendly $299.</p><p>Shares of Sony were down 1.8 percent late Tuesday morning, at $76.34.</p>]]></content:encoded>
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