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Sony’s PS4 sales top 1 million in debut, despite ‘issues’

Bloomberg

Sony Corp. sold more than 1 million PlayStation 4 consoles in North America in the first 24 hours of sales, though some buyers reported “issues” with the new gaming device, it said.

The record sales, which top initial results for its predecessor, the PlayStation 3 launched in 2006, come as Chief Executive Officer Kazuo Hirai tries to make the video-game console the centerpiece of a corporate turnaround strategy. Pressure is building on Hirai after Sony last month surprised investors by reporting an unexpected second-quarter loss.

Sony is getting a head start on competing for the attention of gamers because Microsoft Corp. is releasing the Xbox One later this week. Tokyo-based Sony has priced its console at $399, or $100 less than Microsoft’s machine, as it seeks an edge in the $93 billion-a-year industry before the Christmas shopping season.

“PS4 sales are better than expected,” said Koki Shiraishi, an analyst at SMBC Nikko Securities Inc. in Tokyo. “More importantly, I am watching the penetration into the market one month after its release.”