Has the PS5 Been a Success for Sony?

The Sony PlayStation 5 was launched at the end of 2020, meaning it will be three years old come December 2023. As with any major console release, the PS5 was in huge demand and sold out across many stores throughout the world. People queued overnight to ensure they could get their hands on a PS5, but has the console been a success for Sony?

PS5 Sales

The Easiest way to calculate the success of the PS5 is the number of sales. The Sony console sold over 30 million units as of December 2022, and this number has continued and increased throughout the first half of 2023. However, this figure could have been bigger if Sony had been able to supply stock of the PS5 to stores continually. Millions of people who wanted to buy a PS5 console, especially throughout the first year of launch, could not get their hands on one as supply was so limited. Even today, as soon as any PS5 stock arrives in a store, they sell out within a matter of minutes. In the United States alone, retailers have reported sales of PS5s at nearly 1,000 units per minute, which is incredible.

Comparisons With Other Consoles

The PlayStation 4 was a massive success for Sony, and it sold 20 million units in just 15 months. It took the PS5 18 months to sell the same number of units, so the PS5 did not hit the early heights of the PS4 for Sony. However, we must consider the impact of the pandemic on PS5 sales and the fact there was a global chip shortage, which meant it was difficult for Sony to keep up with the demand for the PS5 console. If it were not for the chip shortage, the PS5 would almost certainly have reached 20 million sales faster than the PS4.
As of December 2022, the PS5 has outperformed the Microsoft Xbox Series X console. The PS5 enjoyed sales of over 30 million by December 2022, whereas the Xbox Series X console had sold just over 20 million units. The Nintendo Switch has outperformed both the PS5 and the Xbox Series X but is targeting a different market. The main comparison is between the PS5 and the Xbox Series X, something which the PS5 is winning.

Why is the PS5 So Popular?

It is clear the PS5 has been a success for Sony, but why has it become so popular? Exclusive games are one of the major draws of the PS5, with Returnal, Astro’s Playroom, Destruction AllStars, Demon’s Souls, Final Fantasy VII Remake Intergrade, and Ratchet & Clank: Rift Apart all being good examples. Access to online casino games via the web browser means it is possible to gamble for real money or choose one of the several casino titles available on the console and play for fun. The performance of the PS5 is another reason why the console has been such a success. Complete with 4K resolution and 60 to 120 frames per second gaming, the performance levels of the PS5 have lived up to the pre-release promises made by Sony.