PlayStation 5 surges past 75 million as Sony dominates the console race

Sony surpasses 75M PS5 sales, leading the console market.

: Sony's PlayStation 5 has exceeded 75 million sales, maintaining a stronghold in the gaming market compared to Xbox's 28.3 million. PS5's holiday period in 2024 saw 9.5 million units shipped, approaching PS4 benchmarks. Sony's gaming division, especially PlayStation Network and PS Plus, has been significantly profitable.

Sony's PlayStation 5 has successfully crossed the 75 million sales milestone, reinforcing its prominence in the gaming console industry, especially when compared to the relatively stagnant sales of Xbox Series X|S at 28.3 million units. The company's gaming revenue has been a critical factor in propping up weaker sections of Sony's portfolio, such as their film and financial services divisions.

In Sony's third-quarter earnings for fiscal year 2024, the PlayStation 5 had its most successful holiday season yet, with 9.5 million units shipped, nearly matching the PlayStation 4's best quarter in FY2017. Sony has not only already shipped 15.7 million PS5 consoles this fiscal year but also aims to reach 18 million before March, indicating the console's sustainable demand and popularity.

The PlayStation Network reached 129 million active users, up 10 percent from last year, bolstered by an increased interest in PlayStation Plus. Although its music streaming is thriving, Sony Pictures suffered from reduced production due to 2023's Hollywood strikes, while the Financial Services division saw a downturn amidst market challenges. Looking forward, Sony is raising its operating profit forecasts, driven by the ongoing success of its PlayStation ecosystem and future game releases.

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