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'No Way' PlayStation 5 Will Be More Than $500, Says Former Xbox Exec

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'No Way' PlayStation 5 Will Be More Than $500, Says Former Xbox Exec

There's "no way" that the PlayStation 5 will cost more than $499, according to former Xbox marketing head Albert Penello. Discussion around the price of the next-gen console flared up again after Sony's PS5 reveal event last week. We got a look at the console itself and a substantial number of games, but that crucial price point remains elusive.

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Penello oversaw marketing on the Xbox, Xbox 360, and Xbox One, so definitely has a good idea of what he's talking about. Taking to Twitter, he seemed pretty damn sure that the price of Sony's next-gen console wouldn't exceed $499. No doubt that should come as welcome news, and also lines up with other industry analyst predictions that Sony will sell the PS5 for $470 at most.

"I believe in the saying 'never say never'," Penello wrote. "But I gotta say never. No way this console is over $499." $499 would be roughly £394 in the UK, but it's worth noting that the final price of the PS5 will likely be more than a straight conversion of the US price. In other words, we can't say that Penello is speaking for the UK here, but his prediction should give you some indication.

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"Price in this generation may be the most important indicator of success," he continued. "Maybe even more than exclusives. There has never been a more divergent set of specs, features, and price points then I think we're going to see this gen. It will be fascinating. Someone should write a book."

The PlayStation 4 launched for $399/£349, and its more reasonable price tag was almost certainly a factor in the console's success. Compare that to the PS3, which launched at $599/£425 and very nearly tanked completely, and you can be sure Sony will be keen to find a middle ground.

PlayStation 5 / Credit: Sony
PlayStation 5 / Credit: Sony
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Earlier this week, PlayStation CEO Jim Ryan confirmed that the company will put "value" over "price" when it comes to the PS5.

"Conventional wisdom and history show that our business is one of the more recession-proof businesses," he explained to BBC Click. "But I think this will sharpen our need to ensure that we focus on getting the value equation right. And I emphasise value as opposed to price.

"We must be more attentive than ever before to ensure that the overall value proposition in terms of the console and the games - the range of games, the quality of games, the quantity of games - makes this something that our community aspires towards."

Featured Image Credit: Sony

Topics: PlayStation 5, Xbox, PS5

Ewan Moore
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