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PS5 Approaches 20 Million Units Sold as Supply Issues are addressed

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It's no secret that the PS5 has had its fair share of supply issues since the 2020 launch. Chip shortages continue to greatly limit Sony's ability to keep up with the high demand for the latest console. Well, it's not just Sony who is suffering but it's arguable that their demand has taken the biggest hit.

The effects of this shortage have been revealed in Sony's 2021 earnings announcement, which saw the company sell 11.5 million units in the 2021 fiscal year. A figure which, while impressive compared to the 7.8 million sold in 2020, is still shy of their 14.8 million estimate.

Despite falling shy of their estimates, however, Sony is confident that the demand for the PS5 will lead to the system eventually recapturing its title as the fastest-selling console generation.

Profits are also up for the PS5, with Sony's Gaming & Network Services services being more consistently profitable than ever before. It's estimated that there are 47.4 million PlayStation Plus subscriptions as of this report and a staggering 70.5 million PlayStation Software Units sold in this quarter alone with 14.5 million of those coming from first-party titles.

Sony has also announced that they plan on selling a further 18 million consoles before March 2023. While these sales are expected to make for an extremely profitable fiscal year 2022, Sony has informed investors that they expect profitability to take a hit.

They are expected to spend more money on making games and realizing the acquisition of Halo and Destiny creators Bungie, who Sony are expected to purchase for $3.6 billion. This will help Sony Interactive Entertainment's plans to reach more players with their titles.

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