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Sony Celebrates PS5 Success as Hardware Sales Surpass 50 Million

Sony, the entertainment conglomerate, is experiencing a surge in momentum for its PlayStation 5 console, with lifetime sales surpassing 50 million units.

The company also achieved its best-ever sales during the Black Friday period.


The PS5, which has been on the market for four years, is expected to perform strongly during the holiday shopping season. Sony aims to sell a record-breaking 25 million units by the end of the current financial year on March 31.

Eric Lempel, senior vice president for global marketing, sales and business operations at Sony Interactive Entertainment, expressed confidence in the console's sales performance.

He stated, "Given the momentum we've had in November and a lot of what we're seeing in December, just in general we're feeling very good about sales overall."


Sony's games business, which was its largest unit by sales, played a significant role in the company's profitability in the last financial year, second only to its music division.


Earlier this year, there were concerns among investors when Sony announced that PS5 sales had been weaker than expected. The company acknowledged that its sales target of 25 million units was ambitious but remained optimistic about striking a balance between sales volumes and profitability.


Lempel highlighted the company's promotional efforts, stating, "We've done some good promotions this year. I will say we've done fewer promotions at this stage of the lifecycle than we ever have in the history of the company."

Supply chain challenges initially hindered PS5 sales, but the situation has improved. The console has gained momentum, particularly with the release of the critically acclaimed game "Marvel's Spider-Man 2" on October 20.

While Sony is known for its single-player games, it is now venturing into live-service titles that offer continuous online play. However, the company recently canceled an online game from its "The Last of Us" franchise to prioritise the development of single-player titles.


As the gaming industry debates the future of consoles in the face of advancing cloud technology, consoles like the PS5 continue to attract gamers. Nintendo's aging Switch console received a boost this year with the release of popular games such as the latest "Zelda" title.


Looking ahead, Sony has exciting PlayStation titles in the pipeline, including "The Last of Us Part II Remastered" in January and the limited-time exclusive "Final Fantasy VII Rebirth" in February.


Despite the challenges and uncertainties, Lempel remains optimistic about Sony's performance, stating, "We are still pushing really hard, and I think we will have a record-breaking year no matter where we end up."

 
  • Sony's PlayStation 5 console has surpassed 50 million units in lifetime sales.

  • The company achieved its best-ever sales during the Black Friday period.

  • Sony aims to sell a record-breaking 25 million units by the end of the current financial year.

Source: REUTERS

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