The video game industry finally showed signs of a turnaround in August and things should continue looking up in September following the highly anticipated launch of Grand Theft Auto V, which grossed $800 million during its first 24 hours of availability. And then, next-generation consoles arrive. During a keynote speech at the annual Tokyo Game Show Thursday morning, Sony said that sales of its upcoming PlayStation 4 video game console are expected to reach 5 million units by the end of the fiscal year, which concludes in March 2014, Engadget reported. To put that figure in perspective, lifetime sales of Nintendo’s new Wii U console totaled just 3.61 million units through its first eight months of availability. Sony’s PS4 debuts on November 15th for $399.99, giving it four and a half months to hit the 5 million mark.

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.