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Sony has announced that it has sold 40 million PS5 consoles since its launch in November 2020. This is a slower pace than the previous console generation, but Sony Interactive CEO Jim Ryan attributed this to the “unprecedented challenges of COVID” and the “months it took for supply chains to normalize.”

Ryan said that Sony is now able to meet demand in all regions and that the PS5 availability will no longer be affected by shortages and supply issues. Ryan added that they are finally meeting the “pent up demand.”

Sony PS5 sales were also negatively impacted by the high prices that resellers were charging and selling in the grey market. In India, the PS5 console was being sold for almost one and a half times its MSRP after launch. The disc variant, which launched at Rs 49,990, was often seen being sold for upwards of Rs 65,000 openly online and in offline stores across India. We investigated the alleged black market activity that was affecting sales back in January of this year, and we found that many retailers were alleging that others were selling the console at a premium.

The supply of the PS5 has improved since then, and Sony has been proactive in introducing limited-time offers, such as a price reduction. Sony discounted both the disc and digital versions of the console by Rs 5,000 in June, and is currently offering a flat Rs 7,500 off on the disc version. This promotion started on July 25 and will continue until August 7.

The platform has also seen the release of major AAA titles since its launch, including God of War Ragnarök, Horizon Forbidden West, Gran Turismo 7, and the recently released Final Fantasy XVI. In October, Sony is scheduled to release Marvel’s Spider-Man 2, which is anticipated to be a “system seller” for the company as the holiday season approaches.