Tuesday, 8 June 2021

PlayStation 5 sales hit $3.8 billion within months, selling over eight million units


Within months of launching, Sony's Playstation 5 and Microsoft's Xbox X/S series consoles have recorded significant sales as they offer the next generation gaming experience. However, Sony has the upper hand over Xbox X/S based on the sales figures.

According to data acquired by Finbold, Sony's Playstation 5 has generated an estimated $3.8 billion in revenue from selling about 8.6 million consoles with an average price of $449.99 per unit. Microsoft's Xbox X/S revenue stands at an estimated $2.04 billion globally, selling 5.12 million units at an estimated $399.99 per console price. Cumulatively, both consoles generated revenue of about $5.92 billion.

Comparatively, the PlayStation sold 3,520,000 PS5 units more than Xbox's X/S series consoles. Elsewhere, PlayStation 5 revenue is 89.42% higher compared to Xbox's X/S revenue.

Pandemic drives gaming consoles sales 

The report highlights some of the drivers behind the two-game console sales, according to the research report.

"Worth noting is that the sales of the two consoles also highlight the impact of the coronavirus pandemic. As people spent more time indoors due to stay-at-home measures imposed worldwide, there was a demand for gaming services as an alternative form of entertainment amid the banned physical engagements. Notably, regions in North America and Europe went into extended lockdowns, and they have emerged as top consumers for the two game consoles."

Despite being hit by supply chain constraints, the two gaming consoles are expected to record more sales than their predecessors based on their unique features.