Sony has officially announced that the PlayStation 5 will cost $499.99 USD while it’s Digital Edition counterpart will go for $399.99 USD. Both versions of the next-gen console are confirmed to launch on November 12.

Recently Microsoft announced the price of their next-gen consoles, with its entry-level Xbox Series S set at $299 USD while its flagship Xbox Series X is expected to cost $499 USD. Both of those consoles are expected to arrive on November 10.

The PlayStation 4 originally cost $399 USD at launch while its Pro version initially sold for the same price later in the original console’s lifecycle. It was recently confirmed PlayStation 5 will include backwards compatibility for an “overwhelming majority” of PS4 titles, although not many games have been confirmed.

After the Amazon placeholder page surfaced, it was recently announced by Gamestop that there will be payment plans ready for those attempting to purchase the pricy console in installments.

In other Sony news, check out the new trailer for Call of Duty: Black Ops – Cold War.

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