PlayStation CEO Addresses the PS5 Price

PlayStation CEO Jim Ryan officially addressed the PS5 price during a recent interview. There have been multiple placeholder prices that have cropped up, including one for $700, but it's unlikely it will actually cost that much. That said, on multiple occasions Sony has suggested the PS5 could be a bit on the expensive side, a suggestion Ryan appears to echo. While he does not state the exact price by any means, he frames the conversation in terms of "value."

According to the PlayStation boss, Sony is less focused on price, and more focused "on getting the value equation right." What this exactly means, is anyone's best guess, but it doesn't sound like the words of a man sitting on a cheap console.

"Conventional wisdom and history show that our business is one of the more recession-proof businesses," Ryan told the BBC. "But I think this will sharpen our need to ensure that we focus on getting the value equation right. And I emphasize value as opposed to price."

Unfortunately, this is where Ryan stopped. Sony seemingly isn't ready to talk about the console's price point, and that could be because it's waiting for Microsoft to make the first move. It's also possible it's sitting on the reveal because it knows it may not go down well, or maybe it's simply a marketing decision. Alas, for now, all we can do is speculate.

The general consensus is the PS5 will cost $500. While every time Sony talks about the console's cost it makes the console sound pricey, there's no way it will charge $600. That's how much the PS3 cost, and they've acknowledged this was a mistake many times.

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Meanwhile, they could ask $550, but consoles typically come with a price tag that ends in "99." Why? Well, research shows that consumers are just as likely to pay for something that's $299 as they are $250. What's important is the first number. Meanwhile, a price in between will often make consumers think they are actually getting upcharged $50 rather than saving $50. If you want, you can read more about why we think the console will cost $500 by clicking right here.

The PlayStation 5 is currently scheduled to release worldwide sometime later this year. Below, you can continue to read more about the next-gen system:

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