Sony says that the PlayStation 4 (PS4) has cumulatively sold through more than 40 million units to consumers worldwide as of May 22, 2016, continuing to demonstrate the fastest-selling console in PlayStation history. By offering users software titles from 3rd party developers and publishers as well as from SIE Worldwide Studios (SIE WWS), PS4 software sales also remain strong, with more than 270.9 million copies sold in retail stores globally and through digital downloads on PlayStation Store as of May 22, 2016.

"We will strive to deliver even more exciting gaming experiences to our users, further driving the momentum and accelerating the expansion of the PS4 platform and its business this fiscal year by offering an unparalleled line-up of games, bringing our virtual reality system, PlayStation VR, to market and providing ground-breaking features and network services," said said Andrew House, President and Global CEO of Sony Interactive Entertainment.

On the software front, the 'Uncharted 4: A Thief's End' (SIE WWS) game title was released on May 10, recording global sales of over 2.7 million units in just one week. PS4 software portfolio will continue to expand with games including FINAL FANTASY XV (SQUARE ENIX CO., LTD), Nioh (KOEI TECMO GAMES CO., LTD.), Ryu ga Gotoku 6 (SEGA Games Co., Ltd.), Gran Turismo SPORT, Gravity Rush 2, and The Last Guardian (SIE WWS). The independent development community will also continue to deliver a variety of new titles for PS4 including DOWNWELL (Devolver Digital), Jotun (Thunder Lotus Games) and Push Me Pull You (House House Games).

The news comes on the heals of reports that Microsoft is planning to unveil two new Xbox consoles, including a slim version in 2016 and a more powerful "Scorpio" version in 2017. Scorpio is reportedly four times as powerful as the current Xbox One, and can support 4K and Oculus Rift.

Sony has its own upgraded "Neo" console on the horizon as well, which is supposedly more powerful than the base PS4 and will support PlayStation VR and 4K functionality. Neo is scheduled for a late 2016 launch.