Sony announces price, release date for Playstation 5

Sony announced Wednesday that the PlayStation 5 will be $499.99, with a digital-only version available for $399.99. Both versions will be released Nov. 12 in the United States.

The long-awaited information on cost and release date for Sony's next generation console was revealed during the company's PlayStation 5 showcase presentation. The console will be available on Nov. 12 not only in the U.S. but also Canada, Japan, Mexico, Australia, New Zealand and South Korea. It will be available in the rest of the world on Nov. 19.

The showcase featured gameplay footage or trailers for many marquee titles for the PS5, including Final Fantasy XVI (which was announced to be a PS5 exclusive but also available on PC), Spider-Man: Miles Morales, and Hogwarts Legacy, a new open-world Harry Potter game. It was also revealed that the Alpha multiplayer mode of Call of Duty's next title, Black Ops Cold War, will be free to play on PS4 from Sept. 18 to 20.

Sony's announcements come a week after Microsoft announced the pricing and release date of its next generation console, the Xbox Series X. That console will release Nov. 10 and cost $499, but the all-digital Series S will cost $299, which is $100 cheaper than the digital PS5.

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