Sony sells more than 1M PlayStation 4 video game consoles within first 24 hours

PS4 is Sony's first new console in 7 years

NEW YORK - Sony says it sold more than 1 million of its PlayStation 4 video game consoles during their first 24 hours on the market.

The consoles went on sale Friday in the U.S. and Canada. Andrew House, president and group CEO for Sony Computer Entertainment Inc., said in a release Sunday that sales remain strong in North America. The company will launch the gaining system in Europe and Latin America on Nov. 29.

Sony has said it expects to sell 5 million units by the end of its fiscal year in March.

The PlayStation 4 is Sony's first new video game console in seven years. It faces competition from Microsoft Corp.'s new Xbox One, which goes on sale this week.

But unlike seven years ago, video game systems are also now competing against tablets, smartphones and other gadgets for the attention of gamers.

Watch the PlayStation 4 Launch Video below (mobile users: http://bit.ly/1fOFY2n):

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