The PlayStation 5 has topped 40 million lifetime sales

The PlayStation 5 has topped 40 million lifetime sales in under three years.

PlayStation boss Jim Ryan said the milestone has arrived with Sony now able to meet "pent up demand" for the console, which launched in November 2020 with supply chains in turmoil.

"We launched PlayStation 5 in November 2020 and the world was in a strange and different place than when we announced the console in 2019," said Ryan in a blog post on the Sony Interactive Entertainment website.

"Despite the unprecedented challenges of COVID, our teams and our partners worked diligently to deliver PS5 on time. We continued to face headwinds with the pandemic, and it took months for supply chains to normalize so we could have the inventory to keep up with demand." Ryan added that PS5 supply is now "well-stocked."

The news come shortly after Sony suggested the PS5 could sell 25 million units during the current fiscal year, which would represent the highest ever annual sales total for any PlayStation console in history.

By comparison, the console sold 19.1 million units during the last fiscal year, which Sony noted was before distribution inventories has normalized.