Sony Group Corp. has set the price of its new, faster PlayStation 5 Pro at $700, significantly higher than Microsoft’s Xbox Series X, which costs $600. The PlayStation 5 Pro, launching on November 7, comes at a $200 premium over the original PS5, suggesting Sony is targeting a loyal audience willing to pay extra for enhanced performance.
This pricing positions both Sony and Microsoft at the high end of the gaming console market. Four years into their product life cycles, the two most popular home consoles are moving towards premium models. Analysts are split on whether Sony’s pricing strategy will drive sales, especially as it seeks to grow its entertainment portfolio across gaming, anime, and film.
Industry analyst Serkan Toto described the PlayStation 5 Pro as a niche device aimed at hardcore PlayStation users, rather than a mass-market offering. “It’s about Sony skimming the absolute top end of the market,” he said, with the gaming world questioning Sony’s high pricing.
Others speculate that Sony’s pricing strategy is aimed at boosting margins, particularly after recent price hikes in Japan due to rising component costs like chips. The new console will allow for higher resolution and faster frame rates without requiring users to switch between performance modes, delivering 45% faster rendering than the standard PS5, according to lead architect Mark Cerny.
Despite the steep price, some analysts believe Sony could benefit. Citi analyst Kota Ezawa pointed out that no previous game console successor has been priced significantly higher than the original model, and that the PS5 Pro’s improved components may not justify such a big price jump. Nevertheless, the higher price could enhance Sony’s gross margins.
The PlayStation 5, which has sold over 59 million units since its 2020 release, has slightly lagged behind the PlayStation 4. The increased cost of the PS5 Pro may narrow its appeal, as the price edges closer to that of a gaming PC—one of the console market’s biggest competitors.
Reviewers also highlighted the lack of a disc drive in the new model, reflecting a broader industry shift from physical media to digital content. A disc drive will be available separately for purchase.
In a blog post, Sony announced that the PS5 Pro would enhance the performance of older titles, with several popular games such as Hogwarts Legacy, Final Fantasy VII Rebirth, and Spider-Man 2 receiving free updates to take advantage of the console’s new features.