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PlayStation vs Xbox - Next Generation of Console Wars will be like no other

Summary

After seven long years, gaming behemoths Sony and Microsoft have released their highly anticipated next generation of consoles, the PlayStation 5 and the Xbox Series X/S. While the release of these consoles has undoubtedly reignited the fierce competition between the two companies, the release is set to encounter new challenges and opportunities in the face of the COVID-19 pandemic and the success of the consoles will be defined by business models to court customers and generate revenue.

Key Highlights

- In the previous generation of console wars, PlayStation emerged as a clear winner, as a result Xbox will surely be eager to solidify itself as a formidable challenger upon the latest generation of consoles releases. The PS4 received critical acclaim and demonstrated once again Sony’s effective strategy of releasing exclusive titles, which was crucial in winning over consumers. While the Xbox 360 was a resounding success, challenging the decade long dominance of Sony, the Xbox One didn’t have the same impact and as a result Microsoft is keen on redeeming itself after a resounding defeat.
- With little to separate the new consoles specification wise, the success of the PS5 and Xbox Series X will be determined by Sony and Microsoft’s differing strategies. As expected, PlayStation has opted for its traditional approach of releasing exclusive content, which has proven highly successful in the past. Xbox on the other hand has skewed its focus toward offering a service in addition to the console itself. Ultimately, PlayStation’s tried and true strategy of enticing in gamers with blockbuster titles will likely prove effective once again. However, both consoles will achieve commercial success, boosted by a thriving console market and by the favorable conditions created by the COVID-19 pandemic.
- The COVID-19 pandemic has had a profound impact on virtually every market/industry around the globe and the games consoles market is no exception. At the peak of the virus, global lockdowns and stay at home policies induced a surge in console sales, in addition to bolstering digital software sales for major game publishers. The trend of increased demand could continue following the release of next generation consoles, although global economic difficulties could inhibit spending amongst price conscious consumers. Ultimately, the pandemic will make the latest release of next generation consoles the most unpredictable yet.

Scope

- Learn how the coming console battle is unfolding
- See how the players have differentiated their offerings
- See which is poised to take the lead
- Understand how this next generation is likely to progress

Reasons to Buy

- What is Sony's strategy?
- What is Microsoft's strategy?
- Who is likely to come out on top?
- How has COVID effected sales?