Sony executive states PS5 price yet to be determined, awaiting Xbox pricing

Sony PlayStation held their investor call earlier this morning, and the company refused to comment much on new details on the PlayStation 5 console, which is expected to launch this Holiday.

One aspect they did talk about however was the price point for the new console. Sony CFO claims during the call that the company is still analyzing all factors about the market before committing to a price for the PS5.

“First, we must absolutely control the labour cost, the personnel cost, it must be controlled,” Totoki said. “And the initial ramp up, how much can we prepare initially, we will work on the production and the sales and we will have to prepare the right volume as we launch this.

He states that they are looking at the price level of the overall market to determine the pricing for the PS5.

“What is not very clear or visible is because we are competing in the space, so it’s very difficult to discuss anything about the price at this point of time, and depending upon the price level, we may have to determine the promotion that we are going to deploy and how much costs we are prepared to pay.“

“So it’s a question of balance,” Totoki continued, “and because it’s a balancing act it’s very difficult to say anything concrete at this point of time, but when I said smooth transition, we mean that we will definitely choose the optimal approach and that we will try to have the best balance so that we will be profitable in the life, during the life of this product.”

Microsoft has not yet announced the pricing for the Xbox Series X as of now. The company has showcased the console and the first games for it, but more details on the Xbox Series X are expected at E3 this year.

Sony has stated that they will be skipping E3 this year in favor of doing smaller events throughout the year where Sony can be better represented.

SOURCE: Video Games Chronicles