Last week, after much anticipation, Sony finally unveiled the price and release date for its next-gen console - the PlayStation 5.
Clocking in at Php24,222 for the Standard version and Php19,377 for the Digital version, the PS5 will be officially rolling out worldwide starting on November 19, 2020. Soon enough, consumers in the Philippines will be able to make pre-orders.
First reactions on social media show that these price tags are reasonable for gamers who were immediately on the pre-order list. It is no wonder, though, we have all been dying to put our hands on the console.
However, this is definitely quite pricey as not all of us might be able to purchase a PS5 on its launch date right away. The PlayStation 5 Standard version will be the most expensive PlayStation console to date (the PlayStation 4 was launched in 2016 at Php18.6k), putting it out of reach for some, such as younger folks or people from developing countries.
The good news is if money is tight, you might not have to wait very long for the situation to change, according to a report by e-commerce aggregator, iPrice Group.
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 Php18.2k or the Standard version for Php22.7k.
That means potentially saving up to Php1.4k, a great boon to many who are keen to witness the price reduction in the Philippines.
Then by November 2021, prices will likely drop even further to Php16.7k for the Digital version and Php20.9k for the Standard version, about Php2.6k-3.2k less than Sony’s introductory price.
We came to this conclusion by examining the price history of PlayStation 4 Pro. We collected and compared selling prices of the console throughout the years on over 150 online shopping websites.
And we noticed that the average online selling price for Sony consoles tends to drop by 6% six months after release and then by a further 8% one year after release.
These amazing prices often come in the form of seasonal discounts from nationwide online retailers or deals from unofficial sellers in the country. Whichever the case, selling online allows these sellers to offer better prices than traditional retail.
So be on the lookout for those sweet, sweet deals!
In case you want to wait for the official price drop from Sony, that might take a lot longer. The first official price drop for the PlayStation 4 happened two years after its initial launch, and the price was slashed by 15%.
There you have it. By simply practicing a little bit of patience and being savvy, you will soon be able to snag that next-gen console for an extremely good price.
- END OF REPORT -
Information on the price history of PS4 Pro was taken from iPrice SG’s database, aggregating over 150 online shops selling brand new products at the lowest price. Official prices were taken from news announcements (CNN Philippines and Yugatech) on Sony's release dates (figures were converted by the news sources).
About iPrice Group
iPrice Group is a meta-search website operating in seven countries across Southeast Asia namely; Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam, and Hong Kong. Currently, iPrice compares and catalogues more than 5 billion and receives about 20-30 million monthly visits across the region. iPrice currently operates three business lines: price comparison for electronics and health & beauty; product discovery for fashion and home & living; and coupons across all verticals.