(Bloomberg) -- Sony Corp. said the latest version of its gaming console, the highly anticipated PlayStation 5, will go on sale Nov. 12 in the U.S. for US$500, matching the price on Microsoft Corp.’s upcoming Xbox Series X as the two companies prepare to battle for market share this this holiday season.
Sony will also release a digital edition of the PS5 for US$400, the Tokyo-based company said at a virtual event Wednesday. That version doesn’t have a disc drive and requires customers to purchase and download games digitally.
Price tends to be a significant factor in the success of a video game console. Historically, the less-expensive systems sell more units, driving an increase in revenue from games.
Sony also announced that Final Fantasy XVI, the next entry in the popular role-playing game series, will be a console exclusive for PlayStation, a significant coup for the Japanese publisher. The previous game, Final Fantasy XV, was released for PlayStation and Xbox.
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 God of War to be released in 2021.