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- Xbox Series S|X, PS5, and Nintendo Switch sales are down by 25-38% in 2024.
- Nintendo’s consoles have taken the biggest hit since the Switch is on its way out.
- A new round of console releases in late 2024 and early 2025 should help this segment recover in the future.
Console gaming has been inconsistent this generation, to say the least. Whether it be the supply shortages or Microsoft’s poor sales in the hardware segment, this industry is no longer as lucrative as it once was.
While the likes of Nintendo Switch continue to sell millions of units each quarter, a new report points to a concerning trend. According to sales data from the UK, console demand has gone down drastically this year.
Why it matters: Console gaming has not grown much in the last two decades, with total sales remaining fairly consistent across generations. This could lead to a concerning future for dedicated gaming hardware.
Christopher Dring from GamesIndustry reports that all three console manufacturers sold fewer consoles in the first four months of 2024 compared to last year.
Unsurprisingly, the ageing Nintendo Switch has suffered the biggest decline, with sales down nearly 40% year-to-date. On the other hand, PlayStation’s sales are down by 25% after a record-breaking year.
This may be one reason for the decline since PS5 sales are now returning to a typical level after an abundance of supply in the last 12 months. Meanwhile, Xbox Series S|X consoles saw the least decline at less than 25%.
However, Microsoft’s hardware sales were not the most impressive in 2023 either. The analyst also reports that Sony’s PS5 is now trending below PS4 sales for the first 3.5 years in this region.
Fortunately, all three gaming giants may have an answer to deal with the declining sales. Nintendo is gearing up to launch a new console in 2025, while the PS5 Pro is expected to arrive later in 2024.
As for Xbox, Microsoft may be planning an early start to the next generation, making its consoles more appealing for enthusiasts looking for the best, most capable hardware in 2026.
With consoles less profitable than before, gaming giants are looking at software to produce more consistent profits. This has promoted a bigger reliance on PC since this platform is home to millions of users.
All three manufacturers are still producing consoles for at least one more generation, but the industry has long predicted a shift away from dedicated gaming hardware.
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[Senior News Reporter]
Avinash is currently pursuing a Business degree in Australia. For more than 5 years, he has been working as a gaming journalist, utilizing his writing skills and love for gaming to report on the latest updates in the industry. Avinash loves to play action games like Devil May Cry and has also been mentioned on highly regarded websites, such as IGN, GamesRadar, GameRant, Dualshockers, CBR, and Gamespot.
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