Sony’s PlayStation 5 recently completed its best year on the market so far, crossing 38 million units sold as a result.
Sony’s latest financial earnings report from their official website revealed that the PlayStation 5 sold 6.3 million units in the fourth quarter (Q4) of the 2022-23 financial year. This figure is more than triple the sales from Q4 of the previous year when it sold just two million units.
The Numbers Don’t Lie
With 32.1 million units sold by the end of Q3, the PS5 now boasts 38.4 million units sold. Sony nearly matched the number of units sold in the 2022-23 financial year with those sold prior to that point, ending the year with 19.1 million PS5 consoles sold compared to the 19.3 million sold beforehand.
Although the 6.3 million units sold in the fourth quarter was impressive, it was not the strongest quarter, as 7.1 million PS5 consoles sold in Q3. Video game hardware typically experiences significant sales boosts during the holiday period in Q3, which makes this trend reasonably typical.
The overall increase in sales is likely related to the availability of PS5 consoles, as Sony Interactive Entertainment president Jim Ryan stated in January that the stock shortage had essentially ended.
The PS5 faced significant production issues due to component shortages that affected the video game industry and beyond, causing Sony to reassess its sales forecast for the 2021-22 financial year.
Exclusive Titles Really Helped
Major exclusive titles also contribute to the console’s success, such as Horizon Forbidden West and God Of War Ragnarok, which serve as major system sellers.
Additionally, Sony’s upcoming lineup of exclusives is expected to maintain the PlayStation 5’s winning streak, as major franchises are set to release games in the near future that will be hard for many gamers to resist. Games like Spider-Man 2, and Final Fantasy XVI are expected to give PS5 the edge over its competition in the latter half of 2023 and into 2024. Furthermore, PlayStation recently acquired a new development studio with plans to unveil a brand-new co-op shooter IP soon. While it’s not guaranteed that the PS5 will continue its streak of popularity like it has over the past year, if it does, it may soon surpass the all-time sales record set by the PS4.