Sony PS5 Reaches 40 Million Units Sold; PlayStation CEO Reports No Further Shortages in Availability
Sony has revealed that it has managed to sell 40 million PS5 consoles since its release in November 2020. However, the rate of sales has been slower compared to the previous console generation. Sony Interactive CEO Jim Ryan has attributed this to the exceptional difficulties posed by the COVID pandemic and the considerable time it took for supply chains to return to normalcy.
Ryan said that Sony is now able to meet demand in all regions and that PS5 availability will no longer be affected by shortages and supply issues. Ryan added that they are finally responding to “pent-up demand.”
Sony PS5 sales were also negatively affected by high prices charged by retailers and sold on the gray market. In India, the PS5 sold for almost one and a half times the MSRP price after launch. Launched at Rs 49,990, the disc version was often sold for over Rs 65,000 openly online and in offline stores across India. We investigated the alleged black market activity affecting sales in January of this year and found that many retailers were claiming that others were selling the console at high prices.
PS5 offerings have improved since then, and Sony has been proactive in introducing limited-time offers such as price cuts. Sony discounted the disc and digital versions of the console by Rs 5,000 in June and is currently offering Rs 7,500 on the disc version. This campaign started on July 25th and will continue until August 7th.
The platform has also seen major AAA games since its launch, including God of War Ragnarök, Horizon Forbidden West, Gran Turismo 7 and the recently released Final Fantasy XVI. In October, Sony is set to release Marvel’s Spider-Man 2, which is expected to be a “system seller” for the company as the holiday season approaches.
