After keeping fans waiting for so long, Microsoft has finally revealed the release date and estimated retail price of the much-awaited Xbox Series X and the Xbox Series S console. The Series X console has been priced at $499 and the Series S, which is by far the smallest console in the Xbox family, has been priced at $299. This has naturally made fans wonder what the price of the PlayStation 5, the much-awaited next-gen console from Sony, will be.

Further reading: Xbox Series S Has A Better Hardware Component Than PlayStation 5

Esports website Gamereactor has found some insight regarding this, thanks to their well-placed sources. The initial report they received from an anonymous source revealed that the console would be relatively expensive compared to the current Series X prices. This would have made business worse for PS5. However, the newer reports suggested that Sony has decided to reduce the price of their upcoming console to match that of Xbox.

PlayStation 5 vs. Xbox Series X/S: Where does the console war stand right now?

Their alleged decision to reduce the price is a good move, considering the nature of the console war right now is much different from the prior years. Both the consoles from the houses of Microsoft and Sony are set to revolutionize and usher in the next-gen of gaming. Both the consoles and their variants feature extremely powerful hardware and an exciting lineup of games that will test this.

The consoles aim at providing a never seen before gaming experience, so the stakes are as high as they can be. In this situation, Sony doesn’t have much of a choice but to reduce the price. Sources have told Gamereactor that Sony plans to price the digital variant of the PS5 at $399 and the premium one at $499.

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None of this date is official yet. As for the release date, not much is there to go on other than speculations and rumors. Both consoles will probably hit the market during the holiday season this year. Now that the Xbox has revealed its cards, Sony might soon reveal the prices and launch date on the PlayStation 5 as well.