Sony Corporation has posted a forecast for its financial year ending March 31, 2017, and projected it will sell 20 million PlayStation 4 consoles in this period.

This, according to Sony, represents an 8.3 percent rise in overall sales compared to the previous year. It believes "PS4 software sales including sales through the network" and "PS4 hardware unit sales" will both contribute to the overall increase.

Pictured: Forecast for The Game & Network Services divison

Currently, total PS4 sales are believed to be around 40 million units. With the projected sales included, this would bring the PS4's global sales to 60 million.

By comparison, the PlayStation 3 has sold more than 80 million units worldwide as of November 2013, which was seven years after its initial launch.

The PS4 has been available for three years.

In February 2016, analysts said the PS4 will go on to sell more than 100 million units worldwide before its lifecycle is over. This is a milestone that only five other consoles have reached.