Sony has said that the latest version of its gaming console, the highly anticipated PlayStation 5, will go on sale November 12 in the United States for $ 500, which is the price of Microsoft’s upcoming contract. Xbox Series X as the two companies prepare to battle for market share this holiday season.

Sony will also release a digital edition of the PS5 for $ 400, the Tokyo-based company said at a virtual event on Wednesday. This version does not have a disc drive and requires customers to purchase and download games digitally.

Price tends to be a big factor in the success of a video game console. Historically, the cheapest systems sell more units, resulting in increased gaming revenue.

Console games have been priced at $ 60 since the early 2000s, but that seems to be changing. Take-Two interactive software previously announced that the next entry in its NBA 2K series will cost $ 70 on Xbox Series X and PS5. In a blog post on Wednesday, Sony said the PS5 games it is developing and publishing will sell for between $ 50 and $ 70. The PS5 Demon’s Souls and Destruction All Stars games, which will launch alongside the console, will both cost $ 70.

Sony also announced that Final Fantasy XVI, the next entry in the popular role-playing game series, will be an exclusive console for PlayStation, a major coup for the Japanese publisher. The previous game, Final Fantasy XV, was released on PlayStation and Xbox.

Other games featured for PlayStation 5 include Hogwarts Legacy, an open-world role-playing game based on the Harry Potter franchise, and Spider-Man: Miles Morales, which will release alongside the console this fall for $ 50. A bundle that includes Miles Morales and a remastered version of Spider-Man on PlayStation 4 will cost $ 70. Sony has also teased a sequel to God of War for PlayStation 4 that will be released in 2021.

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