Last Tuesday, Sony (NYSE:SNE) announced that 6 million units of the PlayStation 4, the company's next-generation video game console, had been sold since its release last November. Because Sony had expected to sell 5 million units by the end of March, the news was taken as a good sign. The PS3, released in November 2006, didn't sell 5 million units until late summer 2007. Not only is PS4 an early success in comparison to its predecessor, it's also easily besting its competition from Microsoft (NASDAQ:MSFT), the Xbox One.
The video game-console industry overall is suffering, however. During the month of January 2007, 1.7 million total video games consoles were sold (that includes sales for all systems from Microsoft, Nintendo (OTCMKTS:NTDOY), and Sony), according to the market researcher NPD. That was two months after the launch of the PS3 and Nintendo's Wii, and 13 months after the November 2005 launch of Microsoft's Xbox 360.