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The PS5 price is still undecided, Sony says

(Image credit: Sony)

We may be waiting for an official (and inevitable) PS5 reveal in the near future, but it seems Sony still hasn't worked out all the key details when it comes to the PlayStation 5 - in particular, how much it's going to cost.

In a recent earnings call (via Spiel Times), Sony's chief financial officer Hiroki Totoki revealed the company still hasn't nailed down the PS5 price.

"What is not very clear or visible is because we are competing in the space, so it’s very difficult to discuss anything about the price at this point of time, and depending upon the price level, we may have to determine the promotion that we are going to deploy and how much costs we are prepared to pay," Totoki explained.

Balancing price

(Image credit: Djordje Novakov / Shutterstock.com)

While there have been (unbelievable) rumors that the PS5 will cost over $1000, it's likely Sony will not want to give the PS5 a prohibitive price tag - particularly given the impact this strategy had on early PlayStation 3 sales. Unsurprisingly, the cost of production will likely make the next-gen console more expensive than the PlayStation 4. 

“First, we must absolutely control the labour cost, the personnel cost, it must be controlled, and the initial ramp up, how much can we prepare initially, we will work on the production and the sales and we will have to prepare the right volume as we launch this," Totoki continued.

One leak priced the PlayStation 5 at around $499 but, with Sony not even sure of the price, it could be difficult to nail down exactly how much the PS5 will cost.

“It’s a balancing act it’s very difficult to say anything concrete at this point of time," Totoki said. But we do know that Sony is aiming for "the best balance so that we will be profitable in the life, during the life of this product."