PS5 Pro unveiled with big price tag

Sony Group Corp. unveiled a new, faster version of the PlayStation 5 priced at $699 (R12,530), positioning itself above the rival Xbox, indicating a belief in a dedicated audience willing to pay a premium for enhanced performance.

This announcement came as Sony declared sales would commence on 7 November, shortly following the launch of Microsoft Corp.’s latest console model. The new Xbox Series X is priced at $599, while the upgraded PS5 Pro is set at $200 more than the original.

Both Sony and Microsoft are venturing into premium pricing territory for consoles. The standard PS5 retails for R13,999 in South Africa, a 56% increase over the $499 US price.

Applying the $200 difference (R3,581) from the US price to the South African market suggests the PS5 Pro might be priced from at least R17,580. Alternatively, maintaining the same 56% premium over the US pricing would place the PS5 Pro at around R19,570.

Gamefinity, the South African PlayStation distributor, confirmed that the PS5 Pro will be available locally, pending confirmation of pre-order and release dates in compliance with local regulations.

Analysts are divided on whether Sony’s pricing strategy will drive sales, with opinions ranging from targeting a niche high-end market to bolstering profit margins amidst component cost increases.

The upgraded console is designed to offer enhanced gaming experiences with higher resolutions and faster frame-rates without requiring mode adjustments. Mark Cerny, the lead architect, highlighted a 45% rendering speed improvement compared to the standard PS5.

While the premium pricing may challenge the market, potentially restricting the audience, Sony aims to provide an advanced gaming device with improved performance and features, including compatibility with existing titles through software updates.

In a move reflecting industry trends towards digital content consumption, the new console notably lacks a disc drive, with the option for a separate purchase. Sony emphasizes improved performance for older games and free updates for select titles like Hogwarts Legacy, Final Fantasy VII Rebirth, and Spider-Man 2.

With over 59 million units sold since its 2020 release, the PlayStation 5 faces comparisons to its successful predecessor, the PlayStation 4, and potential competition from gaming PCs due to the higher pricing. The company remains confident in the console’s capabilities, dubbing it the most powerful one they have created.

Reported with Bloomberg.

Source: MyBroadband