Sony doesn’t expect the PlayStation 5 supply situation to improve any time soon, according to comments its CFO reportedly made to analysts following the company’s recent earnings report. Hiroki Totoki said that it’s difficult for Sony to keep up with demand for the PS5, according to Bloomberg, and that the situation is likely to continue into 2022.

“I don’t think demand is calming down this year and even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn’t be able to catch up with demand,” Totoki reportedly said, later adding “We have sold more than 100 million units of the PlayStation 4 and considering our market share and reputation, I can’t imagine demand dropping easily.”

Sony is aiming to produce at least 14.8 million PS5 consoles in the financial year beginning April 2021, after having sold 7.8 million through March 31st. The company also sold 14.8 million PS4 consoles in its first full fiscal year but didn’t experience severe supply constraints for most of that period, suggesting initial demand for the PS5 is markedly higher.

Totoki’s comments are less optimistic than previous messaging from Sony. PlayStation boss had previously suggested that PS5 supply would “get better every month throughout 2021.” Jim Ryan, president and CEO of Sony Interactive Entertainment, told the Financial Times in February that “the pace of the improvement in the supply chain will gather throughout the course of the year, so by the time we get to the second half of [2021], you’re going to be seeing really decent numbers indeed.”

It’s possible that PS5 supply really will improve at some point, but ultimately what matters to Sony is that Totoki doesn’t expect the company to be able to meet demand in the near term even if production capacity increases. As Ryan himself noted, “there are very few magic wands that can be waved.”