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More temporary PS5 price cuts are coming to Europe this week

Sony will introduce more temporary PlayStation 5 price cuts in select European regions this week.

For the second time in as many months, the price of the standard PS5 model will be cut by €100 in Spain and Portugal, with the console set to be available for €449.99 at PlayStation Direct and regular stores.

The promotion, which will run from August 25 to September 7 in both countries, will further fuel speculation that Sony is attempting to clear stock ahead of unconfirmed plans to launch a new PS5 with a detachable disc drive this year.

Sony introduced a temporary PS5 hardware sale in some European countries in July, with the console’s price officially cut by £75 in the UK, although some retailers offered even bigger savings.

And in the US, retailers including Target temporarily sold PS5 for $449 earlier this month, representing a $50 discount on its normal price.

It’s currently unclear if this second wave of price cuts will extend to countries beyond Spain and Portugal, but VGC has asked Sony for comment.

In legal documents published in July, Microsoft said it expects Sony to launch a new PS5 console this year.

The new PS5 model will cost the same as the existing PS5 Digital Edition console, which is $100 less than the standard PS5, it suggested.

“PlayStation likewise sells a less expensive Digital Edition for $399.99, and is expected to release a PlayStation 5 Slim later this year at the same reduced price point,” Microsoft said.

Sony said in July that PS5 sales had topped 40 million worldwide. PS4 remains the fastest-selling Sony console to reach the milestone, having hit 40 million sales two months sooner, but it didn’t face the same Covid-related supply issues that checked PS5’s momentum.

The company is aiming to ship 25 million PS5 consoles during its current fiscal year ending in March 2024. If achieved, it would beat a 25-year-old console sales record set when the original PlayStation shipped 22.6 million units over a 12-month period.

Sony’s Remote Play handheld Project Q is now called PlayStation Portal, and it will cost $200 / £200 when it launches later this year, the company announced on Wednesday.