Sony's PS5 sales hit record highs in FY22

Sony has reported a phenomenal year for PlayStation 5 sales, having sold a staggering 19.1 million units in its financial year (FY22) compared to the projected volume of 18 million units. The company's FY22 lasted from April 2022 to March 2023, with the last quarter alone seeing 6.1 million PS5 units sold. This marks a significant increase from the previous year's last quarter of FY21, where only two million units were sold, demonstrating the PS5's popularity.

Sony also stated that it has met the demand for the PS5, and customers can now purchase the console without needing to pre-order or wait for their orders to arrive in most locations worldwide. Looking ahead to FY23, Sony aims to sell 25 million PS5 units, which is a target that could very well be achieved if the current trend continues. So far, Sony has sold approximately 38.4 million PlayStation 5 consoles globally.

Console sales are up, game sales are down

Despite the strong sales figures for PS5, Sony saw a decline in game sales from US$70.5 million to US$68 million year on year. The sales for FY21 vs. FY22 were also down from 303.2 million to 264.2 million. Additionally, the company lost around four million users from its PlayStation Network service. However, there was a slight increase in its PS Plus subscription base. The company's Gaming and Networking Services business unit saw a revenue boost from US$4.9 billion in FY21 to US$7.9 billion in FY22.

Although Sony faced the challenge of a weak Yen vs. the US Dollar, the company still managed to generate sales of US$29 billion or 3.9 trillion Yen in total. While the decrease in game sales and PlayStation Network users may be a cause for concern, Sony's outstanding PS5 sales indicate a bright future for the gaming console, and the company will undoubtedly continue to innovate and evolve to maintain its success in the gaming industry.

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