Playstation 5 Price Predictions
This week, a new Bloomberg report cited inside sources with knowledge of Sony’s plans for PS5, saying that the company expects to sell 5-6 million in the first fiscal year, which is lower than the PS4’s 7 million.
It’s due to a few factors, one of which may be a higher price.
Bloomberg says that Sony is targeting at $500-550 price for the PS5. This follows recent reports that costs for PS5 parts were going up, and if scarcity increases because of COVID disruption, that could push the price to the higher end of that spectrum, and Sony will make less units assuming lesser demand.
So, is this a problem?
My old prediction was that Sony would try to undercut a $500 Xbox Series X at $400 or $450. But while that may have been the original plan, it seems like times have changed due to the current crisis, and now $500 is probably the bare minimum.
Given that it seems unlikely that the Xbox Series X is priced anywhere below $500, this means that at worst, Sony will match the launch price of the Series X and won’t be able to undercut it after all. Best case, Xbox Series X with its power edge decides to go all the way up to $600, which means $500 or $550 could still undercut it.
Given the power of these units, the loyalty of fans to their console brands and the worldwide crisis at hand, yes, a $500-$550 PlayStation both makes sense and will probably do fine in the long run. We’ll see if Microsoft starts talking price soon, but I would expect it to be even or higher.