Sony has revealed it hasn't decided how much the PS5 will cost yet, suggesting that the next-gen console's price will be dependent on market competition closer to its launch in the Holiday season of this year.

Speaking on Sony's third quarter earnings call (via SpielTimes), the company's chief financial officer Hiroki Totoki explained that "because we are competing in the space, [...] it’s very difficult to discuss anything about the price at this point of time, and depending upon the price level, we may have to determine the promotion that we are going to deploy and how much costs we are prepared to pay.”

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"It’s a balancing act," Totoki continued, acknowledging that "it’s very difficult to say anything concrete at this point of time” while assuring those in the call that Sony is looking to nail down “the best balance so that we will be profitable [...] during the life of this product.”

This uncertainty about the PS5 price on Sony's part will certainly come as interesting news to those eagerly anticipating the rumoured February PS5 reveal event, which is expected to unveil all the key details about PlayStation's next-gen hardware, including its pre-order information around cost, release date, and upcoming PS5 games.

However, Totoki's comments make it sound as though PlayStation is waiting for Microsoft to reveal its own pricing strategy around the Xbox Series X, also scheduled to release later this year, so perhaps the ball remains in Microsoft's court for now. Either way, you should stay tuned to GamesRadar+ for all next-gen news, official or otherwise, right up until and beyond the release of the console's themselves.

For more, check out more upcoming PS4 games for 2020 and beyond, or watch our latest episode of Dialogue Options below.