The PS5 's price may have been leaked by a gaming store — and the cost almost seems too good to be true.

Notebookcheck reports that Canadian retailer Play N Trade Vancouver Island has opened preorders for the PS5 at CA$559.99. Converted, that is roughly US$396 or £318, which would make the PS5 a tiny bit cheaper than the PS4 was at launch ($399 or £349). That sounds surprising at first, but there are some potential explanations for why this store is charging such a low price.

Screenshots of Play N Trade's Facebook page where it gives the pre-order prices for the PS5. (Image credit: Notebookcheck)

It's possible that Play N Trade doesn't know the exact price of the PS5 yet, and will ask for a subsequent payment in order to balance out the cost. Equally, Sony might be keeping the retail price deliberately low in order to undercut the Xbox Series X , which may be more expensive due to its more powerful processing abilities.

Sony also did this when the last generation launched, offering the PS4 for $100 less than the Xbox One. The Xbox One's higher price, combined with some questionable DRM policies and a focus on entertainment applications, allowed Sony to take an early lead with the PS4.

Microsoft seems to have learned from its mistakes with the thoroughly gaming-focused reveal of the Xbox Series X. But Microsoft charging a premium once again for its hardware could prove its downfall in a market where PlayStation users currently outnumber Xbox users.

We're expecting both consoles to launch around November of this year, with both Sony and Microsoft declaring that the coronavirus outbreak won't cause delays to their consoles. However this could still have an effect on any games intended to launch alongside the new consoles.