PS4 console sales now stand at "well over 25 million", SCE Worldwide Studios VP Michael Denny has revealed.

Denny's comments follow three months after Sony announced that PS4 had crossed the 25m milestone, although the platform holder has remained quiet on providing an updated figure since.

"I don't think there's a better time to buy into PlayStation - PS4 particularly," Denny told GamesIndustry.biz at Paris Games Week. "Our installed base now is well over 25 million. That gives us a massive community of gamers, supported by a lot of new community features. We've got great games out there, more coming through. We're looking forward to 2016, it's an exciting time."

Sony officially knocked £50 off the price of PS4 last week, dropping the price of a 500GB console to £299.99. It also has plans to launch a new range of limited edition consoles with Black Ops 3 and Star Wars Battlefront next month. The company expects to sell 16.5m PS4 consoles between April 2015-March 2016.

Microsoft, meanwhile, hasn't provided an update on Xbox One sales figures since November 2014, when it revealed the console had shipped almost 10 million units. Last week, the firm reportedly told Game Informer that it would not be using console shipments as its primary metric for success going forward, instead focusing on Xbox Live engagement.

The head of Xbox also admitted that he didn't know whether Microsoft could overtake Sony this generation, acknowledging that "they have a huge lead and they have a good product" in an interview posted earlier this month.

Source: gamesindustry.biz