Sony recently revealed the sales numbers for its ninth-generation PlayStation 5 console. Based on the numbers Sony released, the PS5 is looking to be the company’s most successful console yet.
Possibly the most-coveted gaming console as of this generation, the PS5 launched on November 12, 2020 in North America, Australia, Japan, South Korea and New Zealand, just two days shy of its competitors, the Xbox Series X and Xbox Series S. The rest of the world was able to get their hands on their own consoles the following weeks during the PS5’s global launch on November 19.
Well, try to, at least. The console has been incredibly difficult to purchase since its launch, mostly because of how fast it sells out. As a result, gamers and gaming enthusiasts across the globe have been scrambling to find a way to get a console of their own—with some even opting to pay higher than what the PS5 is being sold for.
Now, you’ve probably seen all the memes and posts across social media about the PS5, and we can tell you that the console’s fame has not been exaggerated. The company’s latest earnings report revealed that a whopping 4.5 million PlayStation 5 units were shipped across the globe in 2020. This number is indicative of Sony’s capabilities to mass-produce their gaming consoles to keep up with public demand, and it highlights what analyst Daniel Ahmad speculates is “the best quarter in PlayStation history.” (Read: PS5 was the most searched thing on Google this year, beating out toilet paper)
The demand for the PS5’s predecessor, the PS4, has declined over the past few years since its launch, and the holiday season saw a 77% decrease from the previous year’s sales. Surprisingly, Sony was able to sell more during its third business quarter than its fourth, in spite of there being no special holidays (like Christmas or New Year) from July to September.
But the release of the PlayStation 5 gave Sony’s sales a boost. Revenue for Sony’s gaming arm increased by 40%, mostly because of the PlayStation 5. Sony was also able to note an uptick in videogame sales, subscriptions to PlayStation Plus and console accessories.
In addition to its record sales, Sony also revealed another interesting tidbit about the PS5—it’s being sold at a loss? Currently, the PS5 has a suggested retail price of $500 (Php24,000), while the PS5 Digital Edition is being sold at $400 (Php 19,000). While these price points may seem pretty steep, it costs far more to produce the game’s system.
While this may seem like a surprising bit of information, this practice is the norm for videogame consoles. Microsoft is also reportedly doing the same with its Xbox Series X and Xbox Series S. What Sony is doing now is having the PS5 act as a loss leader to further stimulate their sales. It’s through the sales of these games that Sony will be recouping its costs.
Those costs are something Sony will be dealing with for some time, though. Some of the PS5’s pricier components are projected to become more expensive, especially since demand is rising for parts.
Have you gotten your PS5 yet?
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