The PlayStation 5 was announced just before E3. Despite not currently having a confirmed release date, its assumed Sony’s next-generation console should launch sometime in 2020. Yesterday the very first pre-orders went live for the PS5 but its the price that’s making headlines.
Swedish technology distributor Media Markt listed the PS4 at 9999 Swedish Krona. That’s equivalent to $1046, £858 or €937. For comparison, the Xbox One X and PS4 Pro both launched at under $500. Renowned Sony analyst Hideki Yasuda previously estimated the PS5 would cost $499 at launch.
The validity of Media Markt’s pricing is questionable. Sony themselves have most likely not given retailers estimated prices at this stage of development. Media Markt may very well be taking a risk-free approach by deliberately listing the product at too high a price. Customers will see it as a money-save when they get charged less than expected.
Media Markt themselves state “Price and product information is preliminary and subject to change.” At over $1000 the PS5 wouldn’t be worth your money in the first place. A high-tier gaming PC is easily accessible at that price range. With a PC you also save significant funds purchasing games on superior sales too. If I had to guess, the PS5 should launch at anywhere between $450 and $600.
Many consoles of the 80s and 90s trounced the price of even this inflated estimation. When adjusted for inflation, the Neo Geo launched at $1100 and the Phillips CD-i over $1200. Unsurprisingly, both of these platforms were complete failures. Of course, Sony’s console will be superior in every way to these but it’s clear having a steep launch price can have detrimental effects.
Even within this generation, the Xbox One suffered an underwhelming launch due to its ambitious launch price. Microsoft focus on Kinect support resulted in the Xbox One launching at $499. The PlayStation 4, widely considered a superior platform, undercut this at just $399.