Will Sony Drop the PS5 Price Before the PS5 Pro Releases?

With the PS5 Pro supposedly releasing later this year, there is a possibility that the base PS5 will get a price drop, but how likely is this?

The PlayStation 5 released at the end of 2020 with a pretty hefty $500 price tag. And although it’s possible to get a good deal when buying a console bundle, the price has largely remained the same other than a few limited-time sales.

However, this could be changing with the PS5 Pro seemingly around the corner.

While the PS5 Pro has not been formally announced yet, leaks have revealed its Fall 2024 release window in addition to all of the PS5 Pro specs already. Therefore, it is almost certainly in production and set to release soon.

With a new console releasing, this makes a price drop for the PS5 much more likely. Here’s what we expect from Sony’s PlayStation 5 pricing this year!

Will Sony Reduce the Price of the PS5 in 2024?

There’s a reasonable chance that Sony will drop the prices of the PS5 and PS5 Digital ahead of the PS5 Pro’s release.

This is despite Sony keeping the same prices when the PS5 Slim consoles replaced the original PS5 models in 2023.

Sony’s last-generation pricing strategy indicates a price reduction could arrive ahead of the PS5 Pro. The PS4 Slim launched at a cut-price $300 ($100 cheaper than the PS4 at launch) just two months before the PS4 Pro came out.

This was a great move as it encouraged more gamers to pick up a PS4 Slim as a budget option. Additionally, it allowed the company to release the upgraded PS4 Pro at $400, the initial price of the base PS4.

While this strategy won’t be exactly the same for the PS5 generation, we think a similar price cut is likely. We estimate that Sony will drop the cost of the PS5 and PS5 Digital by $50, making the disc drive version cost $450 and the digital $400.

Then, we predict the PS5 Pro to launch with a $550 price tag. This may be slightly higher than some gamers were hoping for, but it seems to be the most likely figure due to the cost of making PlayStation consoles.

Stay tuned for any announcements from Sony over the Summer. That’s when we expect the PS5 Pro reveal, as well as any new PS5 pricing strategies, to be shared.