When it comes to gaming consoles, there are but two giants in the industry: one being the Microsoft Xbox while the other is the Sony Playstation. Now, we have been receiving some latest news on the new Playstation 5. However, the price point is still under wraps, for we do not know what the Playstation 5 price will be. Hence, we would like to check out historical precedents and suggest our best estimate for the gaming enthusiasts.
Playstation 5 Price: What Does History Suggest?
As far as historical precedents are concerned, they can often act as very good pointers to the future. The original Playstation was launched in 1994, over two decades ago. It was a revolutionary concept which has since been aped many times. It came for a then-princely $299. Originally, the Playstation also played a very big role in shaping the future of gaming as well, a fact which is often overlooked in today’s times.
Six years later, the Playstation 2 arrived in 2000. It carried the same price point: $299. The reason why the price tag had not increased was due to a combination of factors which we shall come to once again. Do keep this point in mind.
The third Playstation, the Playstation 3, came in the year 2006 and was retailed for a minimum of $599. Remember that this 2006 model came in more than one variants and the minimum price tag was $599. This made it a pretty expensive gadget but no one said that gaming was an inexpensive hobby. The price tag was, analysts and fans alike say, was justified by the load of features which was aboard the Playstation 3, something we believe in too.
However, Sony made amends in their pricing strategy, retailing the next model, released in 2013 and called the Playstation 4, for a more modest $399. This is why the Playstation 4, sometimes abbreviated as PS4, has sold so many units. It is so successful, in fact, the Playstation 5 price too will be affected by that console too. In fact, we believe that the Playstation 5 will come for somewhere around $399, the same price tag as its immediate successor.
Why do we believe so? Well, remember how the price tag did not change over the years 1994 and 2000? That was possible because the technology transfer and adoption by the users were swifter which made Sony feel confident that they would not have to transfer too much new technology. Given that the 4K display has become much more common nowadays, and Cloud storage has become cheaper, the $399 price tag seems feasible.
Remember that any great device must also have an imaginative pricing strategy. The PlayStation 5 price too must be kept in check for a very high price tag may scare off many potential buyers.