More units of Sony Corp (ADR) (NYSE:SNE)’s PS4 Fly Off The Shelves Than Microsoft (MSFT)’s Xbox One
Sony Corp (ADR) (NYSE:SNE) continues to give Microsoft Corporation (NASDAQ:MSFT) a serious run for its time and money in the gaming console business. It is emerging that more units of PlayStation 4 were sold last month compared to Microsoft’s Xbox One in the same period. Absolute sales numbers for the month have not been provided. However, there are hints that Sony is also feeling pressure from Microsoft given its recent PS4 price step-down.
The market for gaming consoles is hot and continues to heat. Last month, Sony Corp (ADR) (NYSE:SNE) defied the pressures from rivals Microsoft and Nintendo Co., Ltd (ADR) (OTCMKTS:NTDOY) to sell the most number of its next-generation console, PS4, in September.
NPD, which reported that PS4 had better September sales than rivals, didn’t disclose the exact number of units sold by Sony or its rivals in the month. However, Sony’s statement in a press release left no doubt about its September lead in the console market. The company thanked fans for their support leading to PS4 being the best-selling gaming console in the universe in September.
Pressure leads Sony to cut console prices
Although Sony Corp (ADR) (NYSE:SNE) is celebrating its lead from the front in the console market, the company cannot afford to rest on its laurels. Microsoft’s Xbox One and Nintendo’s Wii U are actively looking for opportunities to match or beat Sony in the console market. The mounting pressure on Sony can be seen from the company’s recent price adjustment for PS4.
Sony, apparently looking for new ways to advance or defend its lead in the console business, has lowered the entry price for PS4. The company cut the price by $50 in the U.S. to put the new base price at $350.
Microsoft was the first to blink on console pricing, cutting $100 from the introductory price of Xbox One.
Epic holiday season
With the kickoff of the holiday season, Sony Corp (ADR) (NYSE:SNE), Microsoft and Nintendo are promising fans an epic holiday season with enriched console game offerings.
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