Sony PlayStation has always been a key player in the video game console industry. They have dominated the market ever since they launched PS2 and are carrying on the top spot ever since. Furthermore, with over 155 million units sold, PS2 is the best-selling game console of all time.

However, Sony plans to break the record set by their older model with their latest console, PlayStation 5. While the sales figure of PS5 has been consistent, it never reached the top spot due to the Covid outbreak. But Sony plans to increase the worldwide sales of their latest console with the help of price cuts.

Sony slashes the price of PlayStation 5, leading to an increase in sales

In some recent data coming to the public eye, sales of PS5 have seen a massive 75 percent hike in the UK following a price cut. Furthermore, the revenue generated by PS5 is also up by 63 percent on a week-on-week basis. The standard PS5 attracted UK fans the most, with a whopping 205 percent increase in its unit sales.

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With this impressive figure after the price slash, Sony is planning to bring the sales of PlayStation 5 back on track. While PS5 has surpassed 40 million units in worldwide sales, it still lags behind its predecessor. The PlayStation 4 remains the fastest-selling Sony console to date. However, with this boost, probably Sony is looking to change things up.

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Recently, President and CEO of Sony Interactive Entertainment, Jim Ryan, also shared PlayStation’s plans to increase the supply of PS5 to overcome the challenges PS5 faced during the pandemic. Furthermore, he also plans to surpass the sales of PlayStation 4 with their latest console. He said, “I would anticipate that over the life of the PlayStation 5, we should be able to exceed a figure of 70 million on top of the 38 million [we have achieved],” 

Furthermore, Sony also plans to convert the user base of PS4 to their latest console. And the price slash in the UK markets was probably planned by Sony to achieve this result. With this strategy working in the UK, they will probably be dropping the prices of PS5 consoles in the US markets too. What are your thoughts on the increase in sales of the PlayStation 5? Let us know in the comments section below.

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