According to Sony Interactive Entertainment, its flagship console, the PlayStation 5, has already been shipped to more than 40 million homes since it launched in November 2020.
The massive number marks a major milestone for Sony, despite the “slower” ascent of the PS5 compared to its predecessor, the PlayStation 4. The eighth-generation console achieved the number two months earlier in its lifecycle.
There’s no denying the PS5 sales journey has been a tumultuous one, with global events like the COVID-19 pandemic and the ensuing supply chain crises playing substantial roles. As Sony’s President and CEO Jim Ryan reflects on this journey, he highlighted the challenges the company faced, saying:
We launched PlayStation 5 in November 2020 and the world was in a strange and different place than when we announced the console in 2019. Despite the unprecedented challenges of COVID, our teams and our partners worked diligently to deliver PS5 on time.
Indeed, it was a herculean task to keep the supply chains operating efficiently in a world beset by the pandemic. Sony made sure to thank its community for their patience and understanding during this time, as it navigated supply shortages and the resulting inventory management problems. However, as of now, Sony has confirmed that the PS5 supply is well-stocked and the previously pent-up demand is finally being met.
Amid these challenges, Sony still managed to outpace its competition. The Xbox Series X and S, for example, reported an accumulated user base of just over 21 million, meaning that the PS5 is outselling its rival roughly two-to-one. In contrast to Sony’s sales triumph, Xbox reported a year-over-year hardware revenue decline of 13% in Q4.
But the console war doesn’t end here. Looking forward, Sony is setting its eyes on sustaining its momentum and expanding its dominance. Several strategies are in place for this, including launching special edition console bundles, such as the one for Marvel’s Spider-Man 2, introducing new gaming hardware like the much-anticipated Project Q handheld device, and the continued enhancement of its game catalog.
With over 2,500 games currently available on PS5, including upcoming exclusives for the next year like Marvel’s Wolverine and Final Fantasy 7 Rebirth, among several others, Sony is paised to maintain its sales momentum.
Furthermore, there are rumors of a PS5 Slim console set to hit the market later this year, priced at $399.99, offering a more affordable entry point to the PlayStation universe. Alongside the still-unconfirmed PS5 Slim, Sony’s Project Q, a handheld game streaming device that wirelessly connects to the PS5, is expected to be released under $300. These devices, along with the promise of a PS5 Pro for 2024, showcase Sony’s forward-looking strategy and its commitment to delivering the best gaming experiences to its community.
It’s important to note, however, that Sony still has a long way to go in catching up to its all-time best figures, as well as the competition from other gaming giants.
As of earlier this year, Sony had shipped over 117 million PS4s, and the PS2 reached nearly 157 million by 2013. The Switch, Nintendo’s hybrid console, also poses a significant challenge, with nearly 123 million units sold by the end of last year – and counting.
Nonetheless, with its current momentum and the forthcoming gaming hardware and titles, Sony has all the ingredients for a strong performance in the coming years, possibly ending up in the top five best-selling consoles of all time before the PlayStation 6 comes around.
Sony is currently expected to hold a showcase sometime next month or by September, presumably to announce the PS5 Slim as well as drop gameplay footage and other information about its upcoming games for next year.
