PlayStation 5 on track for Christmas 2020 release – but console won't come cheap, Sony boss warns

THE next PlayStation is on course to hit shelves in time for Christmas this year, according to Sony's top boss.

The high-tech console, called the PlayStation 5, promises next-gen graphics and powerful hardware that almost eliminates loading times.

Announced last year, there had been concerns that the console's release would be pushed back as a result of the current global health crisis.

However, Sony president and CEO Jim Ryan has confirmed the machine is still on track for its original "Holidays 2020" launch date.

Speaking to Games Industry, Ryan appeared to admit that gamers who fork out for the console at launch will need deep pockets.

The PS5 is rumoured to sell for roughly £450 ($450) a pop, though Sony hasn't slapped an official price tag on it just yet.

"I think the best way that we can address this [the economic issues for consumers] is by providing the best possible value proposition that we can," Ryan said.

He added: "I don't necessarily mean lowest price."

Sony is still keeping details about the PS5 largely a secret.

That's in contrast to Microsoft, which has already revealed the design and early gameplay footage for its new console, the Xbox Series X.

How much will the PS5 and Xbox Series X cost?

Here's what you need to know…

Respected Wedbush Securities analyst Michael Pachter thinks we'll see a major price war.

"From what I've seen, Sony's gonna have to charge $500 for the PS5," he explained.

"Microsoft has a big balance sheet. If they wanna cut the price by $100 – just price below [PS5] and subsidise the first 10million [units] – they will.

"So I think that they're waiting to have Sony blink first, and then they'll reveal the price. Very likely $400."

Fellow gaming industry insider Peter Moore agreed with Pachter's predictions.

Moore was formerly an EA and Microsoft exec, and was speaking on the Bonus Round podcast.

He said: "Michael's right. What both companies are going through right now is: 'How much can we afford to lose in the first 12 to 18 months?'

"'What is our attach rate of software to hardware? What are we willing to do in year one, two and three to hit 10million [units]?'"

Sadly, neither Microsoft nor Sony have confirmed pricing for either of their consoles – or even hinted at a range.

Both consoles are expected to release in October or November this year, though neither has a firm release date yet.

Ryan added that he expected the PS5 to sell well despite most of the globe living under lockdown.

"Recent history has told us that gaming is one of the pastimes, and one of the businesses, that benefits in economically difficult times," he said.

"It's quite logical, people don't have the money to go out so they stay at home.

 

"Now, who knows how this recession is going to look, how deep it will be and how long it will last. It could be that the historic templates, the historic models, that have applied in the past may not apply in the future."

Loading up a game on the PlayStation 5 will be ten times faster than on PS4, according to Sony.

It has a sci-fi controller that features haptic feedback, which means you'll feel different sensations through the controller as you play.

Neither Sony nor Microsoft have announced how much their respective consoles will cost.

Recent estimates suggest gamers will be paying somewhere in the region of $400-500 (£400-500) at launch.

In other news, Microsoft showed off its first Xbox Series X gameplay clips last month.

You can check your Xbox addiction over the past 10 years with the new 'My Decade on Xbox' tool.

And take a look at this incredible Xbox Project Oris concept console.

Will you be buying the PS5? Or is it too soon to say? Let us know in the comments!

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