Sony said the company sold more than 1 million PlayStation 4 game consoles just 24 hours after its Friday launch. This was according to a report published by Reuters.

PlayStation 4 is Sony's first game system in seven years. The game console's new features include a touch pad on its controller, streaming video apps, and social features. At present, it is compatible with around 20 games, but the company is planning to expand its catalog by the end of 2013, said the report.

Sony's PlayStation 4 is one of the top two hottest competing with each other during the Christmas season. This Friday, Microsoft will be launching its Xbox One, the report said.

The tech giant expects to sell about 5 million PlayStation 4's by the end of 2014's first quarter. Analysts expect the demand for the said console to surge and the supply to run out through the holiday season, Reuters said.