Sony announces that the PS5 has already sold more than 40 million units. The shortages have now been resolved, enabling a significant surge in sales for the PS5. This year alone, 10 million new PS5 consoles have been sold.
For comparison, the Xbox Series X and Xbox Series S combined have only sold 21 million units. On the other hand, the Nintendo Switch has surpassed 125 million units sold, but it has been available since 2017, whereas the latest PlayStation and Xbox were launched in 2020.
The PS5 appears to be picking up the pace and is approaching the sales tempo of its predecessor, the PS4. The PS4 took 30 months and 6 days to reach 40 million units sold, while the PS5 achieved the same milestone in 32 months and 15 days. This is an impressive feat considering the backdrop of shortages and challenging economic conditions.
The PS4 ultimately sold slightly more than 117 million units since its launch in 2013. Whether the PS5 will come close to that number remains to be seen. The best-selling console of all time is still the PS2, which has sold more than 155 million units to date.
The surge in sales of the PS5 can be attributed, at least in part, to the impact of the COVID-19 quarantine and lockdown measures. During the COVID-19 pandemic, people around the world spent more time at home due to restrictions and safety concerns, leading to increased demand for entertainment and gaming products.
With more individuals staying indoors and looking for ways to pass the time, gaming became a popular choice for entertainment and socializing. As a result, the demand for gaming consoles like the PS5 soared, leading to higher sales figures. The lockdowns and travel restrictions limited other recreational options, which further contributed to the rise in console sales.
Additionally, the pandemic-induced disruption in various industries, including electronics manufacturing and supply chains, might have initially caused shortages of the PS5. However, as Sony managed to resolve these supply issues, it allowed them to produce and distribute more units, meeting the heightened demand and consequently boosting sales.
It’s essential to acknowledge that while the COVID-19 pandemic may have played a role in driving PS5 sales, other factors like the console’s technological advancements, game library, marketing strategies, and brand loyalty also contributed to its commercial success.