Sony has published its financial results where it showed rapid growth in PS5 sales. Sony started the financial year of 2022 with 2.4 million units of PlayStation 5 sold worldwide in Q1, crossing 20 million units sold to date, and moved on to Q2 with 3.3 million units sold in that quarter.
After clearing inventory and parts shortages, PlayStation 5 sales hit a record 7.1 million units in Q3, more than double that of the previous quarter. It ended the year with 6.3 million units in Q4. This totaled 19.1 million, nearly as much as it sold in its lifetime before this year. More about this can be found here in the report.
The high volume movement of PS5 inventory has increased the overall PlayStation market share by 23.29% globally to 87.79%, according to Statista. The nearest competitor was Xbox, ending the year with a 12.15% share.
During the pandemic, there was a shortage of high-end chips. Sony ramped up the production of PS4 consoles to deal with the PS5 chip shortage. This drove up prices and decreased sales and finding a PS5 was difficult. President Jim Ryan previously told an IGN reporter during CES 2023,
"Everyone who wants a PS5 should have a much easier time finding one at retailer globally, starting from this point forward."
Overcoming this chip shortage has been a driving factor in the sharp rise in sales and growth.
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