Sony's PS5 is unlikely to be cheap, but Jim Ryan, CEO of the group, has said the quality of the next-generation console is worth the premium.
Ryan told he expects the PS5 to sell well because of the coronavirus pandemic, even with the economic strains many of the world's nations are facing. But that means the PS5 could be slightly more costly than the PS4 was at launch.

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"I think the only way we can handle this [economic challenges] is by having the best value proposition we can. I don't necessarily mean the lowest price," Ryan said. "Recent history has told us that gaming is one of the hobbies, and one of the businesses, that benefits in difficult economic times."

Rumors have so far pointed to the PS5 costing $450 to $500. This has sparked rumors that Microsoft is holding back from announcing the Xbox Series X price before Sony announces the price of the PS5, as Microsoft is expected to discount Sony's next-generation console by around $100.

Given that excitement is building around the consoles of the next generation, there is an argument that they are likely to appeal to lots of Xbox and PlayStation fans regardless of price. However which computer will most likely come out on top will depend on cost balance and value for money.

Ryan reckons that the power of PlayStation comes from his games: "Value is a mixture of many factors. In our area it means games, it means amount of games, breadth of games, width of games, quality of games, price of games ... all these aspects and how they take advantage of the platform's feature set."

Seeing that the PS4 has critically praised exclusive titles such as God of War, Bloodborne, The Last of Us and The Last of Us 2, it is not difficult to see why Ryan and Sony will heavily rely on the popularity of the PlayStation for exclusive games to help push their next-generation console. Sony has a PS5 game showcase scheduled for Thursday, June 4, so we'll see what it has to offer then.

Arguably Microsoft does not have the tradition of exclusive outstanding games for its Xbox brand. But where the Xbox Series X looks to offer its value is in the services it offers on top of the console, like Xbox Game Pass Ultimate, Xbox Live and the ability to play Xbox games on Windows 10 PCs.

It is still far too early to predict properly which console will come out on top. But the Xbox Series X and PS5 are going to usher in a very exciting console gaming next generation.