Chronicle Journal: Finance

The PlayStation 5 starts at $400 and will launch on November 12 (SNE)

PlayStation 5Sony

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The PlayStation 5 is nearly here: Sony's next-gen PlayStation console arrives on November 12, and starts at $400.

The Japanese electronics giant announced the long-awaited details during a livestream on Wednesday: The console will arrive in North America, Japan, Australia, New Zealand and South Korea on November 12. Its worldwide launch is scheduled for November 19.

The Digital Edition of the PlayStation 5 costs $400, while the version with a Blu-ray disc drive costs $500.

Though the two consoles are capable of powering the same next-gen games, the Digital Edition is unable to read discs while the standard model can. In practice, that means that the Digital Edition is only able to play downloaded games — the latest step that the video game industry is taking to move away from physical video games.

PlayStation 5 priceSony

Sony first unveiled the look of the PlayStation 5 back in June during a similar livestream event.

The new console is a major visual departure from previous PlayStation hardware. It's white, asymmetrical, and has a set of fins sticking out of the top.

The PlayStation 5 console matches the new controller — the so-called "DualSense" gamepad — which was revealed earlier this year.

Design-wise, the two PS5 consoles are very similar.

As seen above, the digital edition is symmetrical, while the standard edition has a bump where the disc drive is located. 

A handful of major games have been announced for the next-gen PlayStation, including first-party games like "Marvel's Spider-Man: Miles Morales" and next-gen versions of "Assassin's Creed" and "Call of Duty."  Returning favorites like "Fortnite" will move to the PlayStation 5 at launch this November.

Check out the livestreamed PlayStation 5 Showcase event right here:

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Got a tip? Contact Business Insider senior correspondent Ben Gilbert via email (bgilbert@businessinsider.com), or Twitter DM (@realbengilbert). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.

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SEE ALSO: Amid reports of production issues, the PlayStation 5 is expected to be in low supply this holiday

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