According to recent reports the new PlayStation could be substantially more expensive than the old one, meaning you should probably start saving up for it now.
It has also been reported that Sony is trying to keep costs for the new console low to compete both with its existing PlayStations and the Xbox Series X, which will be released around the same time.
But they are struggling to keep the price low because of the cost of the components inside, according to a new report from Bloomberg.
Sony has revealed that the new PlayStation will come with a variety of high-spec hardware, including a big and fast SSD for game storage. That will dramatically improve the speed of the console, allowing it to load games far more quickly than the existing PS4.
But such high-speed, high-capacity SSDs are expensive, and their price has varied wildly in recent months with the market.
The company is also said to be including large amounts of RAM as well as an advanced GPU, both of which can be very expensive.
That has led to troubles for Sony to keep the cost of the console down. The price of the materials inside the console is around $450 (R6700) at the moment, according to the report.
That would compare to a $381 (R5700) estimate for the price of the components required to make the PlayStation 4.
Sony sold the PS4 for $399 (R5950) when it first came out, and it has been reduced since, suggesting that Sony could be comfortable with only thin margins on the console. But at the moment it would require either pushing up the price of the PS5, or selling it at a loss, both of which are likely to be difficult for Sony.
In the past, companies have sold consoles at a loss when they have launched, with the aim of making the money up from services and games as time goes on. The PS4 was priced more conservatively, in the hope of avoiding the costs racked up when the PS3 was launched at a very competitive price.
Sony is also working on a new version of the PlayStation VR headset, which is due to be released after the PS5, the same Bloomberg report claimed.
-Adapted from Independent