The dawn of a new era is coming. Both Sony and Microsoft are gearing up to enter the console wars all over again with new, next-generation video game consoles coming for both.
But while Microsoft was first to announce the release date and price for the Xbox Series X, Sony kept us on tenterhooks for a while longer, eventually revealing all through a PS5 Showcase event on the official PlayStation YouTube channel.
As well as providing an extended look at several upcoming PS5 games and announcing the release date, Sony finally gave us the long-awaited price of the next-gen console - as well as the surprise reveal that PS5 stock was available shortly afterwards.
It's finally confirmed - here is the official price of the PlayStation 5.
Playstation 5 price: How much will the Playstation 5 cost?
The PlayStation 5 will cost £449.99 here in the UK and $499.99 stateside. This matches up with the Xbox Series X and is what most of us expected it to retail at. It will be out on November 19th in the UK.
While there were many who speculated a much higher cost- we heard £549 at one point - it is quite the relief to find out that is not the case.
As for bundles, while we do not yet have any hints as to how much extra they will add on to the price, we would imagine that FIFA 21, Assassin's Creed: Valhalla, and Marvel's Spider-Man: Miles Morales will be featured games at launch.
The digital-only version will retail at £349.99/$399.99.
Should I wait for the PlayStation 5?
Well, that depends on how long you are willing to wait. While there are offers for multiple products on the way over the festive season, we would be surprised to see any significant drop in price for the PlayStation 5 given that we expect it to be released around that time anyway.
And if other past, successful, console launches are anything to go by, you may struggle to get hold of one after the first initial wave of sales hit stock levels. That being said, if you aren't 4k ready yet, or you're happy with the console you have for the moment, then most games for the foreseeable future will be available on the Playstation 4 too.
If you're willing to wait, then now is a great time to grab a PS4 deal at rock bottom prices. However, if you're after the next-gen experience you can pre-order a PS5 from the following retailers - though you may have to wait for a stock refill: