Former Xbox Exec Says "No Way" PS5 Will Be More Than $500

After a huge livestreamed event revealed the PS5's design, controllers and many of the games that will be coming to the new console, one of the biggest questions remaining unanswered is the price. With both Microsoft and Sony promising huge technological leaps on their next-gen consoles, everyone is wondering how much the next-level tech will set them back.

One of the most recent figures to weigh in is former Xbox marketing head Albert Penello, who tweeted "no way this console is over $499" with some certainty.

Having overseen marketing on the Xbox, Xbox 360, and Xbox One, Penello certainly has the chops to comment on a situation like this. He also mused a little on how price would be the deciding factor on who 'wins' this generation of the console war.

Sony has had difficulty with the price issue before--when the PS3 launched at an astonishing $599, it tanked initial sales of the console. Even at that high price point, Sony was still making a loss on each console. Even two generations later it's certain that Sony won't fall into the same trap again.

The PS4 launched at a far more reasonable $399, to great success. Gamespot's staff have predicted the PS5 will fall somewhere between $450 and $500 at launch, within Penello's estimation. Gamespot has also looked at potential pricing for the competing Xbox Series X, which you can read all about here.