As of late 2024, the PlayStation 5 (PS5) has entered the latter stage of its lifecycle, celebrating its fourth anniversary with notable sales milestones, having reached 65.5 million units sold.

Despite a mixed year characterized by both successes and setbacks, the PS5 continues to deliver considerable value to players, suggesting that its best years may still lie ahead.

The launch of the PS5 Pro in 2024, priced at $700, introduced enhanced graphics capabilities, although it faced criticism for not providing significant improvements over the original model.

Looking ahead, upcoming titles like Ghost of Tsushima 2, along with new projects from renowned developers Naughty Dog and Insomniac Games, indicate a promising future for the PS5.

However, Sony's first-party studios have encountered challenges, including layoffs and project cancellations, reflecting the competitive nature of the gaming industry.

In terms of services, PS Plus Premium expanded its library with classic titles, while the base PS Plus tier continued to offer popular games, despite a decline in high-profile day-one releases.

On the software front, the PS5 received a visual refresh of its interface, enhancing user experience with updates to the home screen UI.

Amidst these developments, Helldivers 2 emerged as a commercial success, demonstrating the potential for engaging multiplayer experiences, particularly in contrast to the failure of the game Concord.

In 2024, the PS5 had two notable exclusive games: Astro Bot, which won Best Game at The Game Awards, and Concord, which was poorly received and shut down shortly after its launch.

Additionally, Sony's new partnership with AMD aims to leverage machine learning across devices, potentially influencing future console iterations, including the anticipated PS6.

Despite challenges such as the failure of Concord, the PS5's strong sales figures underscore its status as a high-end gaming console.