The launch came during Coronavirus pandemic and has boosted gaming companies’ revenue but also disrupted retail networks and games development globally.

Furthermore, Sony will grow its studio capability organically, Ryan said, adding that “where we can bolster our in-house capability with selective M&A that might be possible.”

“We’re definitely looking upwards and thinking that we can do better than we thought we could,” said the CEO.

Sony’s shares have gained 45% since March lows. Its shares climbed as much as 1.4% on Wednesday.

Moreover, two versions of the PlayStation 5 console will release on November 12 in Australia, North America, New Zealand, Mexico, Japan and South Korea, later in the rest of the world.

The premium PS5 will be priced at $500, while a “digital edition” designed for the trend of games being downloaded from the cloud will be priced at $400.