The PlayStation 5 launched two years ago and it's been in demand ever since. The extra demand is also partly due to the difficulty of acquiring a console and its perceived exclusiveness, as supplies have been greatly affected by the global semiconductor shortage. However, the much sought-after console may be in stock at your local dealer in time for Christmas.

Sony’s head honcho Jim Ryan recently announced the company has finally solved its stock shortage issues. Speaking at the PlayStation Partner Awards, Ryan said Sony will be able to deliver consoles to Japan and Asia starting the holiday season. While the situation might've improved worldwide in recent months, it's still rare to see a console on display at local video game stores.

"We would like to inform everyone that we have resolved the long-term supply issue of PlayStation 5 and will be able to deliver it to many customers in Japan and Asia from this year-end shopping season to 2023," Ryan announced during the event.

"We apologize for any inconvenience and greatly appreciate your understanding and cooperation. Many fascinating titles were born in Japan and Asia in 2022, and I look forward to honoring them for their outstanding achievements today," he adds.

Sony predicted back in May that the stock shortage would stabilize. However, the company stated that it would take until 2024 for the company to regain the sales momentum similar to the PS4.

According to the company, the global semiconductor shortage, shipping issues, COVID, and Russia’s invasion of Ukraine have all contributed to the shortage of stocks. Semiconductors were in high demand during the COVID lockdowns as companies shifted to work from home. The price of graphics cards was also greatly affected by the shortage.

Things have been improving lately. We recently reported that scalper bots have seemingly lost interest in the PlayStation 5. Bots have been used by scalpers to buy up all the stocks of high-demand items to drive up prices. Sony also said that shipments of the console to the US have been up by 400 percent from last year.

With the stock situation improving for the PS5, Sony will probably be able to proceed in making the long-rumored slim version of the console. There are also reports that a new PS5 will have a removable disc drive.

Elden Ring, Earth Defense Force 6, Stray, Strangers of Paradise, and Ghostwire: Tokyo were all honored during the PlayStation Partner Awards. Elden Ring recently won the coveted Game of the Year Award at The Game Awards. Stray also won Best Indie Game during the annual awards show.