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PS5 Becomes the Fastest-Selling Game Console in US History

Sony's Playstation 5 has become the fastest-selling gaming console in US history, according to NPD
Sony's Playstation 5 has become the fastest-selling gaming console in US history, according to NPD / Photo Courtesy of Sony Entertainment

According to market research group NPD, Sony's Playstation 5 has become the fastest-selling gaming console in US history.

According to NPD, the PS5 sold 4.5 million units globally in 2020. Sony says in February it was on track to sell over 7.6m PS5 units by March 31, 2021. After a multitude of stock issues and many people having to wait weeks for the chance to get the console, it says a lot that the PS5 was able to reach this feat. Demand continues to be high, but Sony is working on making more PS5 consoles available, which will increase the speed of sales even more. Currently, it is still out of stock at retailers.

The PS5 faced early competition from Nintendo's Switch console, ranking behind Nintendo in unit sales in the first fiscal quarter. But since then, the PS5 has been able to overtake the Switch in unit sales as well as lead in hardware dollar sales.

Sony aims to sell more than 14.8 million consoles in the current fiscal year ending March 2021.

"We expect PS5's high demand to continue into next fiscal year and will do our best to meet that demand," Chief Financial Officer Hiroki Totoki said in February. "We will make efforts to secure enough materials."