Sony will be holding a reveal event for the PS5 games, this is likely the first of many teasers they will provide of the console before its release later this year.
Originally scheduled for June 4th, Sony announced they had postponed the PS5 reveal event in light of the George Floyd protests taking place across America as well as other parts of the world. In an official statement, the company said they felt it was best to put a pause in the event in order to prioritize other voices in light of the racial injustices.
Sony's rescheduled event is now set to take place on June 11th. The company has already revealed certain details about the PS5, including information regarding the new DualSense controller as well as the console’s backwards compatibility. Sony has also confirmed the PS5 will debut sometime later this year, just in time for the holidays. The top questions the public wants answered now have to do with the official release date, the console's actual design, and its price. However, they likely won't find out how much the PS5 costs anytime soon.
Why Sony Is Waiting To Release The PS5’s Price
There are several reasons that explain why Sony will likely wait to reveal the next-gen console’s price. First, when announcing the initial reveal event, Sony implied there will be more similar events – or at least announcements – to come in the future. Moreover, the announcement also made it seem as though the first event will be focused on PS5 games rather than its hardware or other specs.
When announcing the June 11th event on the Microsoft to reveal more details about the Xbox Series X before settling on a final price.
Finally, there has also been concerns that the ongoing COVID-19 crisis may interfere with the PS5’s production and subsequently increase its market price. Bloomberg released a report suggesting the impact the pandemic has had on the global supply chain has increased the price of certain materials necessary to the produce the console. Since this increases the manufacturing price, it subsequently increases the market price.
How Much Will the PS5 Likely Cost
In the past, Sony has confirmed the price of an console by the spring of its reveal year. This means it’s already out of the ordinary that the price of the PS5 hasn’t been revealed. There have been various predictions made about the PS5’s price. The PS4 originally was launched at $399.99, and Sony will likely want to keep the last-gen console’s price in mind when deciding on the PS5’s final price. If the price is significantly higher than what the PS4 originally sold for, it could be off-putting to shoppers.
This past April, Sony confirmed the next-gen console’s price would be “appealing to gamers.” Still, the price of PS5 could reach as high as the $500 range, especially if the manufacturing problems caused by coronavirus hold true. Ampere Analysis, an analysis firm, has estimated that the price will be between $450-500.
Because of their competition with Microsoft, and ongoing uncertainty in the global marketplace, it's highly unlikely that Sony will unveil the PS5 price at their reveal event on June 11th.
