Sony CEO warns that the PlayStation 5 will not come cheap

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The launch of the PlayStation 5 is one of the most eagerly-anticipated console releases of all time. Excited fans, though, have been warned that Sony's newest piece of hardware will not come cheap.

Sony Interactive Entertainment's president and CEO Jim Ryan insists, however, that the price tag of the PS5 will represent value - and does not believe that the current world health situation will necessarily affect sales.

There had, in fact, been some speculation that the console would be delayed because of COVID-19, but Ryan assured fans that they can still expect to see the console later this year as planned.

Speaking to Games Industry, Ryan revealed that he was confident that PS5 sales would be strong, despite the many faltering economies around the world.

"Recent history has told us that gaming is one of the pastimes, and one of the businesses, that benefits in economically difficult times.

"It's quite logical, people don't have the money to go out so they stay at home. Now, who knows how this recession is going to look, how deep it will be and how long it will last. It could be that the historic templates, the historic models, that have applied in the past may not apply in the future."

Given Sony's belief that the PS5 will still do well sales-wise, it is little surprise that they are not thinking about lowering its price tag.

"I think the best way that we can address this (the economic issues for consumers) is by providing the best possible value proposition that we can. I don't necessarily mean lowest price," said Ryan - warning that the console will likely set gamers back a substantial amount at launch.

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"Value is a combination of many things. In our area it means games, it means number of games, depth of games, breadth of games, quality of games, price of games... all of these things and how they avail themselves of the feature set of the platform."

Sony has set its stall out. Yes, they want to send a message that they are keen to provide value.  However, this value will not come in the form of a discount on the price on the console at launch. Gamers who simply cannot wait to get their hands on a PS5 should expect to pay a premium.

Naturally, throughout the life of a console, its price will fall. At least at launch, though, the PS5 looks likely to sell for somewhere around its previously rumoured price of £449 (or $499 in the US). Time will tell if the console is worth such a hefty outlay on launch day. 

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