TechInsights reports that PlayStation 5 shipments reached 9.5 million units in Q4 2024, marking a 15.7% YoY growth.

On February 24, TechInsights reported that Sony had its strongest holiday sales season, with PlayStation 5 shipments reaching a record high of 9.5 million units in Q4 2024, just 200,000 units shy of the peak of 9.7 million units in Q4 2016 when PlayStation 4 Pro was launched. After breaking 45 million units in 2023, shipments of gaming consoles in 2024 are expected to decline, mainly due to a decrease in shipments from Nintendo. Nintendo's popular gaming console Switch has been on the market for eight years and is planning to launch an eagerly anticipated upgraded version, Switch 2, in the coming months. Shipments of Microsoft's (MSFT.US) Xbox Series and Sony's (SONY.US) PlayStation 5 also declined year-on-year. However, in Q4 2024, PlayStation 5 achieved its highest quarterly shipments since its launch in 2020, thanks to the launch of PlayStation 5 Pro. As the most expensive gaming console Sony has ever launched, PlayStation 5 Pro is clearly targeted at gaming enthusiasts who pursue outstanding performance. Although mid-generation upgrades may not be as exciting as the launch of a new generation of gaming consoles, they still bring value to gaming enthusiasts and help to boost shipments when they enter a declining phase.