A five-year-old console just outsold one of gaming’s hottest new systems — and the numbers tell a fascinating story about where the industry is headed. Circana’s January 2026 US report shows total hardware spending rose 16% year-over-year to $248 million, with the PS5 finishing No. 1 in both unit and dollar sales — even as its own sales dropped 17% compared to January 2025.

US Console Sales January 2026: Full Breakdown

The Switch 2 carried the hardware market this month. Without it, the 17% PS5 decline, 27% Xbox drop, and catastrophic 79% Switch 1 collapse would have sent total hardware spending sharply negative.

Platform	US Units (Jan 2026)	YoY Change	Lifetime (Americas)
PlayStation 5	188,185	-17%	35.25M
Nintendo Switch 2	179,297	New platform	5.67M
Xbox Series X\|S	72,063	-27%	21.34M
Nintendo Switch 1	28,981	-79%	58.84M
Total Hardware Spend	$248M	+16% YoY	—
Total Game Content Spend	$4.3B	+3% YoY	—
Subscription Spending	—	+23% YoY	—

Top-selling games (US, January 2026):

Rank	Game
1	Call of Duty: Black Ops 7 (2nd consecutive month)
2	NBA 2K26
3	Madden NFL 26
4	Minecraft
5	Battlefield 6
9	Final Fantasy VII Remake (jumped from #225 in Dec — Switch 2 + Xbox ports released)

What These Numbers Actually Mean

The PS5’s No. 1 finish is genuinely impressive given its age, but context matters: Sony boosted it with lingering Fortnite holiday bundles in January. Strip those out and the gap against Switch 2 narrows considerably. Still, a five-year-old console outselling Nintendo’s newest hardware without a price drop or major exclusive launch is a strong signal of the PS5’s installed base and software momentum.

The 79% Switch 1 collapse is the expected cannibalization from Switch 2 — but the Switch 2 itself is underperforming its predecessor’s early trajectory. The Switch 1 sold 963,507 units globally in January 2018; Switch 2 managed 765,795 worldwide in January 2026. Rising RAM prices, a perceived lack of true exclusives, and the high price point are the most-cited factors.

The real story, though, is subscriptions. A 23% surge in subscription spending drove almost all of the 3% content growth — with PS Plus, Game Pass, and Nintendo Switch Online doing the heavy lifting as physical and digital game sales barely moved.

For full Circana data, see the official report via Circana’s Mat Piscatella.

Check our console gaming news on TechnoSports and PS5 vs Xbox Series X buying guide India 2026.

FAQs

Which was the-selling console in the US in January 2026?

The PS5 topped both unit and dollar sales in the US for January 2026 per Circana data, outselling the Switch 2 despite a 17% year-over-year decline in its own sales.

Why did overall US gaming hardware spending rise 16% despite console sales dropping?

The Nintendo Switch 2 offset declines across PS5 (-17%), Xbox (-27%), and Switch 1 (-79%), while higher console prices due to tariffs also inflated total dollar spending.