Sony has matched the price of the forthcoming flagship PlayStation 5 to that of Microsoft's Xbox Series X.
Last time round, the PS4 significantly undercut the Xbox One at launch.
Sony also confirmed the PS5's "digital edition" - which does not have a disc drive - would cost about 40% more than the low-end Xbox Series S.
Both PS5 consoles are set to be released on 19 November in the UK, and 12 November in the US, Japan and Australia.
That puts them slightly later than Microsoft's 10 November launch date.