Former Xbox Executive Suspects PS5 Will Cost "Less than 499"

The PS5 had a huge livestream event last week, where we learned about a lot of the games coming to the system, ranging from the new and exciting (Horizon: Forbidden West), the old and exciting (a Demon’s Souls remake), and the old and not-so-exciting (GTA V is back, as I’m sure Skyrim will be eventually). We also saw what the hardware looked like and learned a little more about the technology behind the innovative new controllers, re-dubbed “Dualsense” rather than their old “Dualshock” moniker.

What we did not hear about, however, was anything resembling a price, which is troubling. After all, if there aren’t any delays and the console is set to launch this holiday season, knowing how many hundreds we’ll need to save up is important for folks like me. However, according to former Xbox marketing head Albert Penello, who weighed in on Twitter over the weekend, he suspects there’s “no way” this console will cost over 499 bucks.

“Price in this generation may be the most important indicator of success. 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.”

Albert Penello ran the Xbox marketing division, starting from the original Xbox to the current Xbox One, so he seems uniquely positioned to comment on the subject. History also supports this theory: the PS3 launched at a whopping 600 bucks, and despite being the follow-up to the most successful console in history with an appealing line of exclusive games, it still sold miserably – only really picking up in sales when the price dropped.

Now obviously, speculation, however well-reasoned, is no substitute from an actual statement from Sony. But since we don’t have that yet, this will have to do.