NO DOUBT about it: the PlayStation 5 will be one expensive machine.
Sony revealed the price for their upcoming video game console last week: $499.99 for the standard edition, and $399.99 for the digital edition. Translated into peso terms, that means the standard edition will be P24,200 — but we expect the Philippine SRP will be much higher, as the PlayStation 4 launched four years ago at $399, but initially retailed in the country for P24,999.
The PS5 is already almost hitting the P30,000 price tag in other territories. It will go for €499.99 (around P28,500) in the European Union, and £449.99 (around P28,950) in the United Kingdom.
Still, there’s hope at the end of the tunnel.
Ecommerce aggregator iPrice Group did a historical analysis of prices for the PS4 Pro.
“We collected and compared selling prices of the console throughout the years on over 150 online shopping websites,” the firm said in its report. “And we noticed that the average online selling price for [the console] tends to drop by 6% six months after release and then by a further 8% one year after release.”
The company, which offers a common regional marketplace for ecommerce in Southeast Asia and conducts regular analysis of trends, told SPIN Life that the PS4 Pro was selected as it had the most complete ecommerce price data of all PS4 models.
Based on that historical finding, the firm graphed its predictions on how much the PS5’s price will be reduced after launch.
“Using data, iPrice Group predicts that by May 2021 or 6 months after the official release, you will be able to get the PlayStation 5 Digital version for P18.2k ($375, from $399.99) or the Standard version for P22.7k (around $468, from $499.99),” iPrice wrote. (SPIN Life added dollar rate conversions.)
iPrice Group also estimates that by November 2021, the digital version could be as cheap as $344 for the digital edition, and $431 for the standard edition.
Will time prove its predictions right? And more importantly, will the prices in the Philippine market follow? For the sake of our wallets, we hope so.
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