Sony on Wednesday night announced the prices of its next-gen gaming console PlayStation 5 and also confirmed that it will be launching in November 2020. The PlayStation 5 will compete against Microsoft Xbox, when launched. The PlayStation 5 will go on sale on Nov 12 in the United States, Japan, Canada, Mexico, Australia, New Zealand and South Korea and on Nov 19 in the rest of the world. 

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Sony PS5, PS5 digital edition prices

The PS5 price has been set at $499.99 and $399.99 for a version without a disk drive. The pricing announcement sets the stage for a year-end showdown between Xbox and PlayStation, as consumers continue to flock to gaming optimised consoles offering exclusive titles. 

Microsoft said last week Xbox Series X would go on sale on Nov 10 priced at $499.99 with the less powerful Xbox Series S priced at $299.99, as Xbox bets that offering consumers choice will outweigh the risks run by launching two distinct devices at once. 

Sony, which is making a stylistic departure from recent generations with the predominantly white PlayStation 5, is offering the version without a disk drive as digital downloads become standard.

Upcoming titles unveiled for the console include platform exclusives "Final Fantasy XVI" from Square Enix, a new "God of War" title from Sony`s Santa Monica Studio and a "Harry Potter" role-playing game. 

The announcement bolsters PlayStation`s lineup following the reveal of a slew of titles including Marvel`s Spider-Man: Miles Morales from in-house studio Insomniac Games in June. That title will also be available on the PlayStation 4, Sony said. 

With both companies seeking to drive recurring revenues, Sony said PlayStation Plus subscribers will have access to a back catalogue of titles from the aging PlayStation 4.