During the TGS Sony conference, Head of SCE Andrew House announced that Sony plans to sell 5 million PS4s by "the end of 2013." Shuhei Yoshida later clarified that House meant fiscal year 2013 , which is March 2014. 1.7 million PS3s sold in about the same time after its launch, which more than double the amount of PS4s being forecast to sell now.

If you want to watch the conference live with an English dub, go here to access it on Nico Nico Douga (just know you'll need an account to watch it).