We now know when video game players will get to purchase Sony’s PlayStation 5 video game console.

The electronics company announced Wednesday it will launch the PS5 in the U.S. on Nov. 12. A digital edition of the PS5 will sell for $399.99 while the standard model will sell for $499.99. Sony says pre-orders will be available starting Thursday at select retailers.

Sony also revealed several new games as part of its digital showcase expected to debut on the PS5 this year and beyond, including:

  • Final Fantasy XVI, the popular role-playing game which will launch only on PS5 and PC.
  • Fresh footage of the Spider-Man spinoff based on Miles Morales.
  • Hogwarts Legacy, an action game based on the Harry Potter franchise.
  • A PlayStation Plus collection featuring a series of PS4 games available to players with a Plus subscription.

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“Since we first announced our next generation console last year, we have received astounding support from developers and gaming fans all around the world, and it’s truly humbling,” said Jim Ryan, president and CEO of Sony Interactive Entertainment, in a statement.

The arrival of new consoles might also mark a shift in pricing. Launch titles including a Demon’s Souls remake and Marvel’s Spider-Man: Mile Morales Ultimate Edition start at $69.99, $10 more than new games available on the PS4.

Details of the PS5 follow one week after Microsoft revealed the first details on when its next Xbox will launch.

Microsoft said the Xbox Series X will launch Nov. 10 for $499, while the Xbox Series S, which will only support downloadable games, will go for $299. Pre-orders for both devices kick off Sept. 22.

Both devices will arrive during an unusual holiday season overshadowed by the coronavirus pandemic, which could push consumers to cut back on spending amid economic uncertainty.

Consultancy firm Deloitte projects holiday sales could rise as much as 1.5% between November and January, a modest increase from the previous year.

Charisse Jones and Mike Snider contributed to this report. Follow Brett Molina on Twitter: @brettmolina23.

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