Sony PlayStation 5 to launch November

The asking price is $US500 ($A685) and $US400 for a version without a disk drive.

The pricing announcement sets the stage for a year-end showdown between Microsoft Corp's Xbox and PlayStation, as consumers continue to flock to gaming optimised consoles offering exclusive titles.

Microsoft said last week Xbox Series X ($US500) and less powerful Xbox Series S ($US300) would go on sale on November 10.

Hardware pricing decisions have won and lost generational console battles as makers look to build a critical mass of consumers that will attract games developers to their platform.

Sony, which is making a stylistic departure from recent generations with the predominantly white PlayStation 5, is offering the version without a disk drive as digital downloads become standard.

Upcoming titles unveiled for the console include platform exclusives Final Fantasy XVI from Square Enix, a new God of War title from Sony's Santa Monica Studio and a Harry Potter role-playing game.

The announcement bolsters PlayStation's lineup following the reveal of a slew of titles including Marvel's Spider-Man: Miles Morales from in-house studio Insomniac Games in June.

Sony's "fantastic" games line-up shows it is "more aggressively betting on exclusives" with "Microsoft focused on cheaper entry prices to get users into the Xbox ecosystem," said Serkan Toto, founder of game industry consultancy Kantan Games.

With both companies seeking to drive recurring revenues, Sony said PlayStation Plus subscribers will have access to a back catalogue of titles from the aging PlayStation 4.

Gaming industry revenues have been on a tear among consumers staying home due to the COVID-19 pandemic, helping drive up Sony's shares 46 per cent since March.

The PlayStation 5 will go on sale on November 12 in the United States, Japan, Canada, Mexico, Australia, New Zealand and South Korea.

Australian Associated Press