The game changer was supposed to be a huge release, but a number of big changes have led to it not delivering what the company had promised.
In an interview with Bloomberg, chief executive John Coppolella said the game was “the wrong game.”
Coppampelle said he had no intention of returning to the company’s previous console strategy, the Playstation 2.
“I had this idea that we’d do a big release, and we’d release two of these,” he said.
The company has also spent $1 billion to develop new hardware, including a PlayStation 4 Pro.
A report this month by Bloomberg said Sony is spending an additional $100 million on new hardware.
It said Sony will release a new console at E3 2017 with a refreshed interface and more powerful chips.
Coppopella said he was “trying to be pragmatic” and said the company would continue to invest in its games.
But Coppol said the console was going to be “a new system for us.”
Sony has not disclosed sales figures for the new system.
