PS5 console sales hit 4m in the UK, less than PS4 in same period

The PlayStation 5 (PS5) console has recently surpassed the milestone of 4 million units sold in the UK. However, this achievement took 31 weeks longer than its predecessor, the PlayStation 4 (PS4), which had reached the same sales figure much more swiftly. This makes the PS5 the fifth-fastest home console to hit this milestone, following behind the Nintendo Wii, PS2, PS4, and PS1.

One of the key factors contributing to the slower sales pace of the PS5 is its higher price point. Unlike its predecessors, the PS5 has not seen significant price reductions since its launch. Historically, consoles like the PS1, PS2, and Nintendo Wii had their prices slashed considerably within a few years of release, which helped boost their sales numbers. GfK’s Dorian Bloch notes that the era of consoles being sold at impulse-buy price points is over, as the cumulative average selling prices for older consoles were much lower by the time they reached 4 million units sold​.

The context of the global market also plays a significant role. The PS5, priced higher than previous generations, faces competition from continued cross-generation game releases that keep the PS4 relevant. Many popular games are still being released for both the PS4 and PS5, reducing the urgency for consumers to upgrade to the newer console. Moreover, the availability of high-quality games for the PS4, such as the latest installments of FIFA and Call of Duty, has kept many gamers content with their older hardware​.

Additionally, the PS5 launch was plagued by supply chain issues, which were further exacerbated by the COVID-19 pandemic. These challenges caused significant stock shortages that impacted early sales. However, with the easing of these issues, the PS5’s availability has improved, and sales have started to pick up and have been unhindered by supply problems​.

Despite these challenges, the PS5 continues to perform well in the broader context. Globally, the console has surpassed 40 million units sold, maintaining its strong market presence. Industry analysts suggest that upcoming exclusive titles and potential price adjustments could further boost PS5 sales. There is also speculation about a PS5 Pro model and other game announcements, which could revitalize consumer interest and drive higher sales​.

While the PS5’s journey to 4 million units in the UK was slower than the PS4’s, various factors such as higher pricing, cross-generation game releases, and initial supply shortages contributed to this delay. Nevertheless, the PS5 remains a dominant player in the console market, with strong sales figures globally and a promising outlook for the future.