PlayStation 5 to launch in US on November 12 for $499.99

Sony has revealed that its long-awaited PlayStation 5 will cost $499.99 when it launches alongside the game maker's $399.99 Digital Edition.

The PS5 will launch on Nov. 12 in the U.S., Japan, Canada, Mexico, Australia, New Zealand, and South Korea before being unveiled to the rest of the world on Nov. 19. Preorders will begin at "select retailers" as early as tomorrow, Sept. 17.

"We’re pleased to provide choice to gamers with two PS5 console options at launch, depending on if you want a digital-only experience or prefer disc-based gaming," Sony said in a press release Wednesday. Whichever PS5 you choose, you’ll enjoy the same breathtaking, next-gen gaming experiences."

The consoles come with a custom processor that supports 4K graphics and ray-tracing support and an SSD hard drive that provides "lightning-fast" loading speeds.

In addition, Sony released pricing for the PS5's accessories, including the DualSense Wireless Controller for $69.99, PULSE 3D wireless headset for $99.99, an HD Camera with dual 1080p lenses for broadcasting for $59.99, a media remote for movies and streaming services for $29.99 and a DualSense charging station for $29.99.

SONY DENIES MAKING MILLIONS OF FEWER PS5 CONSOLES THAN PLANNED

As part of the unveiling, Sony released a sneak peek of new games that will launch on the PS5, including Devil May Cry 5 Special Edition, Final Fantasy XVI, Five Nights at Freddy's Security Breach, Hogwarts Legacy, and a new God of War title.

"These newly revealed titles, along with the games we’ve shown previously, represent the best lineup we’ve ever seen in PlayStation history," the company said. "Games like "Marvel's Spider-Man: Miles Morales," "Call of Duty Black Ops: Cold War," and "Demon's Souls" will launch alongside the console. Our own Worldwide Studios titles will be priced from US $49.99 to US $69.99 (RRP) on PS5."

The company noted that some of its new games will also launch on the PS4, including Marvel’s Spider-Man: Miles Morales, Sackboy A Big Adventure, and Horizon Forbidden West.

"While these three games were designed to take advantage of PS5 and its unique next-gen features like the ultra-high-speed SSD and DualSense controller, PS4 owners will also be able to enjoy these experiences when they launch," the company wrote. "The PS4 digital versions of launch games include a free upgrade on both PS5 consoles, while the PS4 disc versions of these games include a free upgrade on the PS5 with Ultra HD Blu-Ray disc drive."

PlayStation Plus members will also receive a special new offer called the PS Plus Collection, where they will able able to download and play from a "curated library of PS4 games that defined the generation," including Batman Arkham Knight, Bloodborne, Fallout 4, God of War, Monster Hunter: World, Persona 5 and many more.

The PS Plus Collection benefit will be included along with existing PS4 benefits that PS Plus members receive for a single subscription price.

"This year has been unlike any other, and there have been many challenges the world has faced," Sony added. "We can’t wait for November to arrive – when you’ll be able to get a PS5 console in your hands to begin exploring new adventures and creating new epic memories for many years to come."

MICROSOFT CONFIRMS XBOX SERIES S TO BE PRICED AT $299

The reveal comes a day after the tech company pushed back against reporting by Bloomberg that it is cutting its expectations for production by 4 million units and expects to manufacture about 11 million units by the end of March.

The outlet had initially reported that Sony planned to boost production to around 10 million units by the end of December, but noted that it had since run into manufacturing issues.

The Verge noted Tuesday that the PS5’s system-on-a-chip -- or its core processing component designed with AMD -- is said to be the particular issue at hand. Half of the parts produced were not fit to ship and, while that figure has been improving, the yields have "yet to reach a stable level" Bloomberg said.

"While we do not release details related to manufacturing, the information provided by Bloomberg is false," a Sony spokesperson told CNET in a Tuesday statement. "We have not changed the production number for PlayStation 5 since the start of mass production."

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In April, Sony expected to produce 5 million to 6 million consoles by the end of March -- fewer than it had made for the launch of the PS4 in 2013. But due to the coronavirus pandemic, the gaming industry boomed in popularity and Sony sharply increased its estimates.

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The PS5 pricing puts the game system right up against Microsoft's upcoming next generation consoles, the Xbox Series X and Series S.

The X Box Series X and S are set to be released on Nov. 10 for $499 and $299 respectively, with preorders beginning Sept. 22.

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Fox News' Julia Musto contributed to this report