“This is the first holiday season where we have had full PlayStation (PS) 5 stock in every geography,” Eric Lempel, Sony’s chief operating officer for the business, said earlier last week.

Previously, console component shortages had kept gamers around the world from getting their hands on the PS5. The shortages stemmed from a global chip shortage and supply chain disruptions that have similarly affected other consoles like Microsoft's Xbox Series X and S.

Since their November 2020 launch, the PS5 and Xbox Series X have been in short supply in stores, but Lempel says that’s now over, and this is the first year that PS5s have been in full stock at retailers and distribution partners right before the holidays.

Sony has set a target of 25 million PS5s shipped throughout 2023. If all goes well, it will be the best year in the history of the PlayStation device.

The Japanese tech giant said the company is on track to hit that milestone and expects “record-breaking sales” thanks to a rebalancing of supply and demand for PS5 exclusive titles.

Meanwhile, Microsoft is betting big on the gaming side of its business. That’s why the Windows maker spent a huge amount of money to buy game maker Activision Blizzard. With the $69 billion deal now in place, the Redmond-based company owns blockbuster titles like “Call of Duty,” “Candy Crush,” and “Crash Bandicoot.”

Journey to find a partner

Responding to CNBC's question about whether Sony needs to do anything in response to Microsoft's move to catch up with the ongoing intellectual property land grab in the gaming space, Lempel said Sony is constantly looking for new developer partners to build exclusive titles for the PS5.

But the executive added that the company is more interested in building partnerships before considering acquisitions. Lempel cited Insomniac Games, the company that developed Marvel's Spider-Man series for PlayStation, as a prime example of this strategy.

Insomniac was previously a partner of Sony, producing games for the PlayStation platform, but it became more integrated with Sony before the Japanese tech giant later decided to buy the company outright.

The company's Spider-Man 2 game sold more than 2.5 million copies on its first day of release, becoming the fastest-selling PlayStation Studios game in history after 24 hours of sales.

(According to CNBC)

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