The PlayStation 4 is now second only to the Wii in terms of how quickly it is selling. According to MCV, Sony Corp (ADR) (NYSE:SNE) (TYO:6758) sold 1 million PS4 consoles in 42 weeks, while Nintendo sold the same amount in 38 weeks.
PS4 becomes an instant success
The website reports that it took 50 weeks for the PS2 to hit the 1 million mark and 60 weeks for Microsoft Corporation (NASDAQ:MSFT)’s Xbox 360 to hit it. The PS3 is now in third place at 46 weeks, following the newest model of the console.
Here are all the ideas presented at the 2020 Robin Hood Investors Conference
As usual, the Robin Hood Investors Conference has brought several new investment ideas from some of the top minds in the wealth management business. Investors heard from Sachem Head's Barnes Hauptfuhrer, One Tusk Investment Partners' Vivian Lau, Lone Pine's Mala Gaonkar, Lakewood Capital's Anthony Bozza, CAS Investment Partners' Clifford Sosin, Teca Capital's Fernando Vigil and Read More
U.K. Managing Director Fergal Gara told MCV that they are attracting large numbers of former Xbox owners and convincing them to buy the PS4. The executive also said that PS3 consumers have been quick to upgrade to the newest version of the console and that it appears as if many PS4 buyers are entirely new to gaming, which means that they have selected the console to be their first “serious gaming device.”
PS4 Beats Xbox One
For months, it’s been clear that Sony’s PS4 is beating Microsoft’s new Xbox One console in sales. In July, the PS4 led the Xbox One in sales for the sixth consecutive months, making it clear that Sony was pulling ahead. The Xbox One apparently has yet to hit the 1 million mark, so the gap between unit sales of the PS4 and the Xbox One may be widening.
In July, Microsoft slashed the price of the Xbox one in an attempt to close that gap. Initially, it was priced $100 higher than the PS4, although it included the Kinect device along with it. Microsoft then started selling the console by itself at a price matching that of the PS4. In June, the company said sales of the Xbox One doubled month over month, but the timing of the price cut may be the real reason for that, as it happened in May.