Jeff Grubb of VentureBeat has tweeted that August is when we can expect both companies to reveal the prices of their next-gen consoles. He cites the pricing habits of other big hardware producers, but also the realities of pre-ordering as the reasons for this prediction. Grubb is also the man who predicted that the PS5 will be revealed on June 4, so he likely has some knowledge via a confidential source.
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I wouldn't expect console prices until August. When Intel, Nvidia, and AMD launch similar products, they wait until the last possible minute to set a price. It's the one thing they *can* still change. But, of course, consoles rely more on preorders, so can't wait forever.May 20, 2020
Pricing is likely to be very competitive this generation. At the launch of last generation, Microsoft made a major slip-up by selling the $499 Xbox One for $100 more than the PS4, compounded by other unpopular moves such as focusing on the Xbox's non-gaming features and introducing a DRM checking system that required the console to always be online.
This time around, Microsoft is widely seen as having learnt its lessons. Previous rumors have suggested that Microsoft may undercut the PS5 on price, and its official announcements have focused on the Series X's gaming potential and PS5-beating specs.
There's also rumors of Project Lockheart, also known as the Xbox Series S. This will be a cheaper version of the Series X that will have reduced power while still providing a solid upgrade over Xbox One. Assuming Sony doesn't also have a 'Lite' version of the PS5 hidden up its sleeve, this could be another dangerous weapon for Microsoft in its plan to convert PlayStation players into Xbox fans.
We're expecting big news on both consoles in the coming weeks. Xbox recently revealed some of the first Xbox Series X gameplay from third-party partners, while Sony is preparing for a first-party showcase which should feature some of the franchises players are most excited about. Once these reveals are over and done with, we'll likely see both consoles actually go on sale in November.