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PS5 price and release date should arrive later this week

(Image credit: Sony)

Sony has scheduled a PS5 "Digital showcase" on Wednesday, September 16 for one final look at next-gen games before the console goes on sale. There is also a good chance the company reveals the PS5's price and release date now that Microsoft has opened up about the Xbox Series S and Xbox Series X

"Before PlayStation 5 launches this holiday, we wanted to give you one more look at some of the great games coming to PS5 at launch (and beyond!)," Sony wrote in a blog post.

Sony says the event will be around 40 minutes in length and will feature updates on the "latest titles from Worldwide Studios and our world-class development partners." 

The company wouldn't show its hand about possibly revealing the price, release date and pre-order date for the PS5 and PS5 Digital Edition. Regardless, we will more than likely find out about these missing details on Wednesday. Sony simply can't afford to drag its feet any longer now that Microsoft revealed the pricing and availability details of the Xbox Series S and Xbox Series X. 

Microsoft's flagship Series X is priced at $499 while the cheaper Xbox Series S will go for $299. Sony isn't expected to undercut the affordable Xbox Series S but the PS5 and PS5 Digital will need to be competitive against the Xbox Series X to stand a chance this generation. 

Sony has some flexibility this time around with its two offerings. As it stands, rumors and leaks suggest the PS5 will match the Xbox Series X at $499 while the PS5 Digital could take $50 to $100 off the price.

When is the PS5 Digital Showcase event?

The live stream will begin on Wednesday, September 16 at 1pm PDT / 4pm EST / 10pm CEST.

You'll be able to stream the event on Twitch or PlayStation's YouTube page.