PS5 set for last minute price drop – thanks to Xbox Series X 🤑

Sony set to slash PS5 price tag to compete with Xbox Series X

PS5 PlayStation 5
(Image credit: Sony)

Sony is still sitting on the pricing and release date of its upcoming PS5 and PS5 Digital Edition consoles, despite predictions that we'd hear the details on September 9 – PlayStation's 25th anniversary. 

Instead, it was Microsoft who took the day as an opportunity to reveal its Xbox Series X launch date and price, after the all-digital Xbox Series S details leaked the night before.  

Prior to the leak, the two companies appeared to be waiting for the other to blink first, giving them time to react and implement any last minute changes they felt necessary; and it seems like that's exactly the case, with Sony rumoured to be cutting the PS5's price in the wake of Microsoft's announcement. 

According to Gamereactor's source, who's described as having "an overview of the situation," the PS5 was set to launch at a "considerably" higher price than the Xbox Series X's $499/ £449 / AU$749, and that may have also applied to the PS5 Digital Edition and the Xbox Series S' $299/ £249 / AU$499 price tag. 

That was the state of affairs immediately after Microsoft's full reveal, but the website has since reported that Sony has now slashed the price of its console to better compete with the new Xbox hardware.

The final prices of the PS5 and the PS5 Digital Edition are now said to be $499 and $399 respectively. This doesn't actually sound like much of a price cut, given that the most recent reports have put the price of the two consoles at $499/ £449/ €499 and $399/ £349/ €399. 

However, if they were going to have been between $50 - $100 more expensive initially, then gamers will be glad to hear the news.  

In a bid to make sure its new hardware sells, Microsoft has discontinued the Xbox One X and Xbox One S All-Digital Edition, making the next-gen options the only place to play in 4K, or all digital. 

In addition to that, there's the Xbox All Access program, which offers the Xbox Series X for $35 / £29 / AU$46 per month, and the Xbox Series S for $25 / £21 / AU$33 per month. The interest free credit agreement is spread over 24-months, and includes Game Pass Ultimate for that time period.

Meanwhile, after struggling with the PS3, which was criticised for being too expensive, Sony knocked it out of the park with the PS4, and it's now the second-best selling console of all time – behind the PS2. 

Sony doesn't want to count itself out of the race with a pricey piece of hardware again, especially with the pandemic taking its toll on personal finances. As long as it matches Microsoft, it shouldn't have anything to worry about.       

Source: Gamereactor

Shabana Arif

Shabana worked at as News Editor covering tech and gaming, and has been writing about video games for almost a decade (and playing them since forever). She's had bylines at major gaming sites during her freelance career before settling down here at T3, and has podcasts, streaming, and video content under her belt to boot. Outside of work, she also plays video games and should really think about expanding her hobbies. If you have any tech or gaming tips, shoot over an email or DM her on social media.