Sony has announced that the PlayStation 5 will be priced at $499 (around PHP25,000) for the Standard Edition and $399 around PHP20,000) for the Digital Edition. Both editions will release on November 12 in selected territories (US, Canada, Mexico, Australia, New Zealand, Japan, and South Korea) and November 19 worldwide.

The pricing details were announced during the PS5 showcase which also saw a ton of new announcements on titles like Final Fantasy XVI and Harry Potter.

You can view the whole showcase below:

Both the Standard and Digital edition are identical in specs, with the only difference being the lack of a disc drive. The PlayStation 5 models priced at $499 and $399 directly competes with the aggressive pricing Microsoft has put in place. In comparison, the Xbox Series X will retail for $499 while the Series S will go for $299, with the Series S being the lower, entry-level spec console.

According to Sony, pre-orders will begin tomorrow in the US but it seems a lot of retailers have already started as of today.

As for local details regarding actual retail price and pre-order dates, we’ve yet to get announcements so we’ll have to wait until stores like Datablitz and Game One PH reveal their plans.

The PlayStation 5 will release on November 12 and worldwide on November 19.