PlayStation 5 Launch

In the world of gaming consoles, Sony's PlayStation was king, both in terms of consoles sold and number of exclusively compatible games. Similar to its chief competitor in the space, Microsoft's Xbox, PlayStation released an updated version of its console every six to seven years, along with a slew of new games designed to be compatible with the new gaming system. Sony first made public its plan to launch its next-generation console, the PS5, in early 2019. A year later, however, key questions, such as the new console's price and launch date, were still unanswered, and analysts wondered whether the COVID-19 pandemic had jeopardized Sony's production and shipment schedule for the PS5.