Xbox Series X/S and PlayStation 5 sales have declined in Europe and the US. The increase in game and console prices, as well as the fact that new games do not create the expected excitement, may be causing the sector to shrink.
Latest status of Xbox Series X/S and PlayStation 5 sales
According to the data of analysis firm Circana, spending on games in August decreased compared to the same period last year. Despite the significant decrease in hardware sales; a relatively more stable situation was observed in the software and accessory market.
Total spending decreased by 7 percent on an annual basis, lower than the same month last year. Hardware revenues, on the other hand, decreased by a large 36 percent to $208 million. With the appearance of new generation consoles on the horizon, sales of current generation consoles decreased.
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Sales of the Nintendo Switch, which is expected to receive a new model, fell 41 percent year-on-year. Other consoles such as the PlayStation 5 and Xbox Series X/S also fell by at least 34 percent. Despite the overall decline in hardware sales, the PS5 managed to remain the best-selling console in both units and dollars.
However, this leadership could be shaken with the launch of the PS5 Pro in November. The industry’s eyes are on whether the new model can revitalize the hardware segment. Gaming accessory spending fell only 3 percent to $173 million.
In the coming months, we will see whether hardware sales will stabilize or whether spending will continue to shift toward new hardware and software.
