Sony has revealed their plan to sell 5 million Playstation 4 consoles by the end of the fiscal year, which closes at the end of March 2014. The announcement was first made by Sony Computer Entertainment president and group CEO Andrew House during Sony’s TGS Key Note conference last night.

President of Worldwide Studios Shuhei Yoshida confirmed the announcement on his twitter: “Our plan is to sell 5 million PS4s by the end of 2013.”

The company also revealed their plans to launch their new system in select Asian Territories- South Korea, Hong Kong, Singapore, and Taiwan-in December of this year.

In other news Sony has also detailed their next-gen game upgrade plan. First revealed back at Gamescom, the plan will allow consumers to buy last-gen versions of select titles then upgrade them to next-gen versions for only $10. The participating titles are as follow- Watch Dogs, AC4, Battlefield 4, Call of Duty: Ghosts. Consumers who have purchased PS3 versions of these games will find a code packed into their game that can be redeemed through the Playstation Store. To play the PS4 version the PS3 disc needs to be inserted into the PS4 disc drive to activate and play the next-gen version.

Those who purchased the digital version do not need to insert a code. Once they access the PS Store through their PS4, the game will automatically be available for $10.

The offer will expire in early 2014. To be more specific, January 31, 2014 for AC4 and Watch Dogs, March 28, 2014 for  Battlefield 4, and March 31 for Call of Duty: Ghosts.

Full step-by-step instructions can be found on the special Playstation support page. The PS4 will launch November 15 in North America and November 29 in Europe.