Same price, less storage. Shrinkflation at its finest.
Sony plans to release a new PS5 Slim All-Digital console with an 825GB SSD, reducing storage from the previous 1TB to optimize production costs amid rising expenses. The PS5 Slim Standard with a disc drive will retain the 1TB SSD, and the updated model is expected to launch in Europe first.
PS5 is supposedly no longer sold at a loss.
That said, the margin per console is probably not good enough for their required profit growth, hence this.