After months of speculation, we now have tangible clues on how much the PS5 would cost upon release.
Last month, Sony officially named the successor to the PS4 and PS4 Pro, calling it the PlayStation 5. In the same official statement, they revealed that the PS5 will be releasing sometime in Holiday 2020.
This means that Sony plans to go head-to-head with Microsoft's Project Scarlett, which will be released in the same time window.
With the release window set, Sony just pulled short from revealing all the important details about their next-gen console. Up until now, Sony hasn't revealed anything about the price. Thankfully, a recent investor call changed that.
In a recent investor call by Sony, CFO Hiroki Totoki was the one who mentioned the PS5's price tag. According to Totoki, the PS5 will be released at an "affordable price." He also addressed the Holiday 2020 window as the "most important step in developing the PlayStation platform."
Consoles are a popular Christmas gift. Next year, many would have to decide which between the PS5 and Microsoft's new console would be under their Christmas trees.
Totoki argued that the new console's profitability will depend on the price, but putting a price tag too high would discourage PS4 players from switching early.
Sony is "analyzing the cost, the acceptable price in the market, and platform penetration," says Totoki, which could be interpreted as Sony trying to price the PS5 at an affordable point. He reassures investors that Sony is still "very conscious of the level of profit for investors and the marketplace."
The actual price of the PS5 hasn't been revealed yet, but according to the investor call, the console would release below the $550 price point. Initial rumors have been pegged anywhere between $500–$600, and $550 sit comfortably right in the middle.
In contrast, the PS4 launched at $399 six years ago.
But is the PS5 priced reasonably? That is still up to debate, and really, the price's palatability will differ from one person to another. But we do have detailed technical specifications, as well as a number of features that the console will be rolling out on.
One of these big features is the PS5's SSD, which allows it to load games around fifteen times faster than the PS4 Pro. In spite of the SSD, the PS5 will still be able to load games through discs. Players will be able to choose which parts of the games they'd want to install on the SSD, like just the story mode or just the multiplayer sections. These parts will be loaded faster when accessed in-game.
The PS5 will also be released with improved controllers, with high-technology haptic feedback. The analog feedback would give varying intensities of vibration, allowing for a more immersive control of the game.
The PS5 will also possibly release side-by-side with a PS5 Pro. Exact details on the PS5 Pro hasn't been released yet, much less a price point.