Why it matters: We now know what the Xbox Series X and PlayStation 5 look like. We also know most of their hardware specs and have seen some games. But the big question remains: how much will they cost? In the case of Sony’s machine, we’ve just heard that the company will be "emphasizing value as opposed to price."
The admittedly vague statement comes from PlayStation CEO Jim Ryan, who was speaking to the BBC.
There’s still no official word on how much the PS5 will cost. It’s something that’s rumored to be a sticking point for Sony. In February, we heard that deciding a price for the console was proving difficult, with expensive components, such as the much-praised SSD, pushing the price tag up to $470 or more. It's also rumored that the next PlayStation’s supply could be limited at launch due to its high price.
According to Ryan, however, Sony has acknowledged that a potentially disastrous recession in the wake of Covid-19 lockdowns means the MSRP of the PS5 will be even more of a deciding factor for those considering a purchase.
"Conventional wisdom and history show that our business is one of the more recession-proof businesses," said Ryan.
"But I think this will sharpen our need to ensure that we focus on getting the value equation right. And I emphasize value as opposed to price."
"We must be more attentive than ever before to ensure that the overall value proposition in terms of the console and the games - the range of games, the quality of games, the quantity of games – makes this something that our community aspires towards."
Last week’s PS5 event revealed two PS5 consoles: one with a disc drive for physical games and playing 4K Blu-Rays, and a disc-free, digital-only machine. We can expect the latter to be around $50 - $100 cheaper than the standard console. With digital purchases becoming increasingly popular, this looks like a smart move by Sony, one that could increase its overall PS5 sales.