PlayStation 5 to release Nov. 12 at 2 price points: $499 and $399

It's finally coming.

Image via Sony

The next generation of PlayStation is coming soon. The PlayStation 5 will release on Nov. 12 at $499 in the U.S. and some other regions, Sony announced in a livestream today.

The Digital Edition of the PS5, which comes without the ability to play discs, will launch on the same day at the price of $399. Other than not having a Blu-Ray disc drive, there’s not a huge difference between the two models.

The Nov. 12 release date is for the U.S., Japan, Canada, Mexico, Australia, New Zealand, and South Korea. It will launch on Nov. 19 in the rest of the world.

Fans and gamers around the world have been waiting for months for the news about the PS5’s release since it was initially shown off back in June.

Sony is making good on its promise to release the new console during the holiday season of 2020. Pre-orders will go live across various retailers for the console, accessories, and games tomorrow.

For price comparison, the Xbox Series X will launch at $499, and the Series S will be $299, both on Nov. 10. Previously, the PlayStation 4 launched at $399, and the PlayStation 3 famously launched at $599.

There had been some question whether the console would make it into 2020 with the current state of the world due to the COVID-19 pandemic. But it’s coming—and just in time for the holidays.