Sony To Release PlayStation 5 On November 12

Sony Corp. (NYSE:SNE) said the latest version of its gaming console, the highly anticipated PlayStation 5, will go on sale November 12 in the U.S. for $500 U.S.

Sony’s pricing for the PlayStation 5 will match the price of rival Microsoft Corp.’s (NASDAQ:MSFT) upcoming Xbox Series X console as the two companies prepare to battle for market share.

Sony will also release a digital edition of the PlayStation 5 for $400 U.S., the Tokyo-based company said at a virtual event. The digital version doesn’t have a disc drive and requires customers to purchase and download games digitally.

Sony also announced video game "Final Fantasy XVI" the next entry in the popular role-playing game series, will be a console exclusive for PlayStation 5, a significant coup for the Japanese publisher. The previous game, Final Fantasy XV, was released on the PlayStation and Xbox consoles.

Other games showcased for PlayStation 5 included Hogwarts Legacy, an open-world role-playing game based on the Harry Potter franchise, and Spider-Man: Miles Morales, which will be released this fall alongside the console. Sony also teased a sequel to the PlayStation 4’s popular God of War game to be released in early 2021.