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PS5 price won’t be $500, says Pachter

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PS5 price is unlikely to be on the expensive side

Wedbush Morgan analyst Michael Pachter has suggested that next-generation hardware won’t be positioned at $500, citing the failure of previous consoles that have been sold at a higher price point.

Speaking during the latest episode of Pach Attack, the analyst reckons PS5 (and presumably, whatever Microsoft churns out next) aren’t going to put too much of a strain on our wallets.

I don’t think next gen consoles will be $500… though I guess the right answer is, let’s see what happens with the Xbox One X,” he said. 

PS5 price could depend on Xbox One X success

Pachter did concede however that he’ll gladly be proved wrong if the Xbox One X does prove a sustained success.

The PS3 launched at $600 and it flopped. The Xbox One launched at $500, and it didn’t work, they had to drop the Kinect and bring it to under $400 before it sold,” he continued. 

He also observed that consumers are unlikely to spend money on a console that is priced higher than a new TV, which could last them a decade or more whereas new hardware usually runs for half that time. 

PS5 release date arriving by 2020

Pachter has previously commented that the PS5 is likely to launch by 2020, around the same time that 4K TV broadcasting will materialise. 

Sony has said that it will launch a new console at some point down the line, though hasn’t gone into any further details at this point.

The PS4 is approaching its fourth anniversary, although it’s worth remembering that PS3 bucked the trend when it came to five-year console cycles, having stayed on the market for seven years before its successor arrived.

More recently, Pachter suggested a 2019 release date for the PS5, and reckons it will be fully backwards compatible.

What do you think the PS5 price will be set at? Let us know in the comments below.

Source: PSLS