The next-generation PlayStation has arrived.
Sony confirmed that the PlayStation 5 will launch on November 12th, priced at $499.99. It will also have the $399.99 Digital Edition.
It will have similar prices throughout different territories: €499 and €399, £449 and £359, and ¥49,980 and ¥39,980.
Pre-orders for the next-gen console will start on September 17th at select retailers.
The PS5’s starting price doesn’t make the cut as Sony’s most expensive console sold, though it is certainly costly. The title still belongs to the PlayStation 3, which cost $499 for the 20GB model or $599 for 60GB.
However, many PlayStation fans and game enthusiasts already saw this coming. It was highly unlikely for the PS5 to exceed the $500 mark when it’s up against the affordable next-gen Xbox.
The official information was derived from Sony’s September PS5 livestream, at the very end of the event.
After featuring new titles like Final Fantasy XVI, Spider-Man: Miles Morales, and a teaser of the next God of War game, Sony finally presented a straightforward list of PS5 prices and release dates after months of fan speculation and alleged leaks.
Xbox square up
The official PS5 pricing puts the console squarely up against Microsoft’s Xbox, with the entry-level Xbox Series S at $299 and the flagship Xbox Series X for $499 which are slated for release on November 10th.
PlayStation 5’s release date on November 12th will apply to the US, Japan, Mexico, Australia, New Zealand, and South Korea. Meanwhile, the rest of the world will get their hands on the next-gen console on November 19th.
Sony is also yet to finalize a PS5 release date for China, and will announce the information at a later time.
At launch, the current-gen PlayStation 4 cost $399 though it currently sells for $299.
The PlayStation 4 Pro was originally sold for $399, which is still around its current price today outside of major sales like Black Friday.
Sony still hasn’t confirmed if it will drop the prices for current-gen consoles or discontinue the older models altogether upon the launch of the PlayStation 5.
The PS5 will feature backwards compatibility for an “overwhelming majority” of the existing PlayStation 4 titular line-up, although further details are still yet to be revealed.
The expanded game library might help attract more potential PlayStation buyers over older consoles for this holiday season.
Sony is vocal on its prioritization of value over price, so if you’re eyeing the heavy-hitting PS5 exclusives with some cash to spare– you might be better off with the more expensive console.
But, the PS5 Digital Edition will still run similar specs as the fully-fledged console, hence it’s still considered a bang for the buck.