Updated at 3:39 p.m. ET: Sony has responded to Bloomberg's report.
"While we do not release details related to manufacturing, the information provided by Bloomberg is false," the company told GamesIndustry.biz in a statement.
"We have not changed the production number for PlayStation 5 since the start of mass production."
Our original story follows.
Sony has lowered the target for production to 11 million units from an original 15 million that were due to be manufactured by the end of the fiscal year at the end of March 2021.
Here's all we know.
PlayStation 5 Production Cut By 4 Million Units
As the Bloomberg report identifies, this is likely to cause some stock issues given the console's undoubted popularity.
It's worth noting that manufacturing issues such as this aren't usually anything to be worried about, at least as far as consumers are concerned.
Bloomberg suggests that yields are improving, but it's still a considerable drop when taking into account the demand for the console.
The news comes on the same day as industry analyst Daniel Ahmad noted that Sony is looking to use air freight to ensure demands are met, particularly in the United States.
Just to clarify one point. I'm not 100% certain if this is 60 flights, or 60 aircraft. But it does sound like each flight will be full. Source for this is Delta Air Cargo head Jerry Tai.
— Daniel Ahmad (@ZhugeEX)
Sixty Delta 747 flights are planned to ship consoles to retailers, while presumably the majority of consoles will still be dispatched via sea freight.
In case you missed it, a Spanish retailer looks to have leaked the price of the PlayStation 5.
Of course, we're likely to find out more at the PlayStation 5 event tomorrow, where we'd imagine Sony will reveal pricing and pre-order details.
In fact, we already know what'll be in the box!