PlayStation 5 launches Nov. 12 for $499.99

The PlayStation 5 will cost $499.99 for the standard version of Sony’s next-gen console and $399.99 for the PS5 Digital Edition — the system without an optical disc drive — when it launches Nov. 12, Sony Interactive Entertainment announced Wednesday during its PlayStation 5 Showcase livestream.

The Nov. 12 release date is for the consoles’ launches in the U.S., Canada, Mexico, Australia, New Zealand, and South Korea. They’ll become available on Nov. 19 for the rest of the world, Sony said. Regional pricing is €499.99 in Europe, 49,980 yen in Japan, and £449.99 in the U.K. for the standard edition; the Digital Edition will cost €399.99 in Europe, 39,980 yen in Japan, and £349.99 in the U.K.

Sony’s PS5 price announcement follows similar news from Microsoft, which announced the release date of its $499.99 Xbox Series X and $299.99 Xbox Series S last week.

Here’s how that PS5 pricing compares to previous generations. Sony launched the PlayStation 4 at $399.99 back in 2013. That price point was much more palatable to consumers than the (infamously high) price of its predecessor, the PlayStation 3, which launched with models priced at $499.99 and $599.99. Prior to those platforms, Sony launched the original PlayStation and PlayStation 2 at $299.99.

Sony has been slowly rolling out details about the PlayStation 5 since the console was first detailed in April 2019. Since then, Sony has confirmed new details like the PS5’s logo, the next-generation DualSense controller, the console’s design, PlayStation 5 box art, and a long list of first-party and third-party games coming to the next-gen console.