$400 for digital-only, $500 for the full system.
PlayStation 5

The next-gen is now fully in gear. With Microsoft announcing the price and release date of their Xbox Series X, the only piece of the puzzle that remained was what Sony would do with the PlayStation 5. Today, the company announced that the Digital Edition will retail for $399.99 (USD) while the "regular" version with a disc drive will retail for $499.99.

Both consoles are expected to launch in select countries on November 12. The rest of the world will get to purchase the console starting on November 19. The select few countries that will get the console on the 12th include the Untied States, Japan, Mexico, Australia, New Zealand, and South Korea. A release date for China has not yet been finalized. Either way, this does place the PlayStation 5 at a slight disadvantage when it comes to the next-gen race as the Xbox Series X launches on November 10.

As a comparison, the PlayStation 4 launched at a $399 price point. The PlayStation 4 Pro also launched at the $399 price point. The PlayStation 3 takes the crown for Sony's most expensive console release, weighing in at $499 for the 20GB model and a staggering $599 for the 60GB model.

Pre-orders for the PlayStation 5 will begin on September 17, just one day after this news post goes live. Pre-orders on the next-gen Xbox begin on September 22.