The PlayStation 5 looks a tempting treat for gaming and AV enthusiasts alike, what with Sony confirming the console will have a 4K Blu-ray player, 8K video support and 360-degree audio. Understandably, then, you may want to start planning your PS5 pre-order. But where and when can you pre-order the PS5? How much will the PS5 cost? And will there be any PS5 bundle deals?
The PS5 price is, so far, one of the few details that Sony has dodged. Even at its June PS5 live event, where it spilled the beans on almost everything - kit and caboodle - it stayed hush on pricing. In all likelihood, we'll have wait until closer to the 'Holiday 2020' planned PS5 launch to find out concrete price tags.
That's not to say there is no PS5 price information out there at all, though. There were plenty of PS5 rumours in the build up to the June event that have offered realistic insights on parts and manufacture cost, the extra hurdles thrown up by the COVID-19 pandemic, and even the effects of global politics.
Read on for all there is to know on the PlayStation 5 price and pre-order details currently available, and start saving for your next console...
PlayStation 5 price: recent history
Sony may have left us guessing the PlayStation 5 price, but history is on our side.
Both the original PlayStation and PS2 launched at £299/$299 in 1994 and 2000 respectively. The PS3 was quite the step up in 2006, with the entry-level 20GB model starting at £425/$499 – although that was more or less in line with inflation with regard to the original PlayStation, and there were also the significant hardware upgrades to factor in, not least of all being the Blu-ray optical drive.
Nonetheless, the PS3 was initially criticised partly for its seemingly high price. The 60GB model's $599 price tag took particularly heavy flack. By the arrival of the PS3 Slim in 2009, though, all seemed to have been forgiven.
The bigger public surprise was saved for the 2013 PS4 launch, however, when the PlayStation price dropped down to £350/$399 and heralded the arrival of one of the best-selling games consoles of all time.
History would dictate, then, that a PlayStation 5 price of anything over £400/$400 is a recipe for trouble, however, with seven years of inflation to account for and the technological envelope that Sony is clearly pushing with the PS5, we wouldn't be surprised to see the company taking that risk.
The caveat is to remember that the retail price of a games console isn't just about recovering the development and manufacturing costs at the moment of sale. These are devices that will earn Sony even more money through content and licensing. The more PlayStation 5 homes that there are, the more money will be made over the long term. A little subsidising of the price tag could go a very long way.
PlayStation 5 price: cheaper Digital Edition
June's PlayStation live event revealed not one but two PS5s - the PS5 and PS5 Digital Edition - and that may be a significant marker when it comes to the PS5 price. A dual device strategy means that Sony can keep at least one model more affordable while still offering a more fully-featured PS5.
While not confirmed, it is thought that the full-fat, disc-playing PlayStation 5 and the more affordable, disc-less PlayStation 5 Digital Edition will have performance parity, with the optical drive the only difference between the two.
It would seem sensible to predict that the aim is for the PS5 Digital Edition to dip below the magic £400/$400 barrier, while the version with the disc drive might be more like £499/$499. Surely Sony wouldn't risk a launch price of over £500/$500, would it?
Well, just days after the console's reveal, PlayStation CEO Jim Ryan told the BBC that Sony is looking to "emphasise value as opposed to price", which sounds rather like a way of justifying that the PS5 will be a pricey bit of kit.
Perhaps the most telling piece of news so far on the PS5 price is the PlayStation 5 product page leak on Amazon France, spotted by Twitter user Ben Geskin, which stated that the PlayStation 5 would be 500 euros with the PS5 Digital Edition at 400. Given the usual differences in currency and region, this would seem to point at launch prices of £450/$450 for the PS5 and with the PS5 Digital Edition at £350/$399 in the UK and US.
As ever, it's important to take such leaks and rumours with a pretty huge pinch of salt. After all, everyone's a Photoshopper and deepfakes are rife. The interesting side note here is that, if true, the Amazon France post also points to a PS5 release date of 20th November 2020. Too neatly positioned within the holiday period?
It seems so. Just a few days later Amazon France issued a response to Techradar saying, that the screen grab image is a fake.
PlayStation 5 price: impact of global issues
Sony seems to be sticking to its release date schedule in the run up to the planned holiday launch of the PlayStation 5. The COVID-19 crisis alone has been enough to floor plenty of companies and have operations grind to a halt, but Sony hasn't announced any issues preventing either games or games console development.
The original pre-coronavirus target was the sale of six millions units by March 2021. Undoubtedly the pandemic will have shifted those timescales, but there are other global issues that could have an effect on price.
The trade war between China and America is one such problem, which will not have been helped any by the finger-pointing over the COVID-19 outbreak. Even back in June 2019, Nintendo, Sony and Microsoft issued a joint statement warning of price rises if the trade war continues.
According to Bloomberg, some issues lie with manufacture, with Sony struggling to keep the production price down below $450 (£350). There are reportedly issues with sourcing components, such as DRAM and NAND flash memory that could well lead to a far higher retail price than predicted.
PlayStation 5 price vs Xbox Series X price
One reason Sony may be keeping very quiet on the PS5 price is down to the competition from the Xbox Series X (and vice versa!)
Back in November 2013, the PS4 was launched at £350/$400 compared to the £429/$499 price of Xbox One which gave undecided next generation games console customers up to 99 very good reasons to opt for the PlayStation. Both prices had been announced at E3 2013 launch events.
Notably, neither Microsoft nor Sony has given anything away so far. It seems pretty clear that both see pricing as major advantage and each seems likely to hold its cards close to its chest until the very last moment.
All the same, going back to Jim Ryan's comments, the issue of relative price may be a red herring while the problems of successfully launching a high-end games console in the current global climate are really the prime concerns.
“I think the best way that we can address this is by providing the best possible value proposition that we can. I don’t necessarily mean lowest price. Value is a combination of many things. In our area it means games, it means number of games, depth of games, breadth of games, quality of games, price of games… all of these things and how they avail themselves of the feature set of the platform,” he said.
According to well-repsected tipster Eastmen on Beyond3D, the price of the Xbox Series X and Lockhart/Series S could be as low as $400 and $200. Eastmen suggests that the Microsoft is happy to offsets any losses they suffer through the sale of games and subscriptions.
PlayStation 5 pre-orders
PS5 pre-orders are not open at the moment. In the past, pre-orders have quickly followed the PlayStation's launch events at E3, but the timeline has been very different in 2020 for lots of reasons. All the same, we'd expect to see PS5 pre-orders begin sooner rather than later in the lead up to a November 2020 PS5 release.
What with possible manufacturing issues, those already with their hearts set on one of the first flush of PS5 consoles would do well to act quickly when pre-orders launch. There'll most likely be a deposit to stake your claim of up to around £100/$100. At least it's a way to spread out the cost a little.
In the mean time, the best bet is to keep your ear close to the news by signing up to PS5 pre-order notifications on the likes of Gamestop, Game, Target and Best Buy. We'll add links to more retailers offering PS5 pre-order notifications as they come in.
PlayStation 5 price: game bundles
Sony has confirmed a raft of PS5 game titles, but as extensive and exciting as that list looks, we still don't know which of them will be available at launch.
It's likely that retailers will look to sell PS5 bundle deals with the most popular titles, including NBA 2K21, Marvel’s Spider-Man Miles Morales, Assassin's Creed Valhalla, Call of Duty, Gran Turismo 7 and possibly Grand Theft Auto. We'd also expect a PS5 FIFA 21 bundle at some point too. Again, once we know the official launch titles, the likely PS5 deals will become clearer.
Beyond games, we're also likely to see the PS5 bundled with other treats and temptations. On the software side, we may see subscriptions to PlayStation Plus. On the hardware side, expect to find the option to purchase your PS5 along with one of the official PS5 accessories such as the Pulse 3D headset, HD Camera and DualSense Charging Station. As ever, more details as we get them.
In the meantime, get clued up on everything the new console has to offer with our PS5: release date, specs and news guide.