Sony to launch PlayStation 5 Pro on November 7

Sony said Tuesday it would launch an upgraded version of its flagship games console PlayStation 5 Pro enhanced graphics and AI capabilities on November 7.

"Simply put it's the most powerful console we've ever built and a worthy edition to the PS5 family," Mark Cerny, PlayStation's lead architect, said in a video announcement.

A caption at the end of a short message said the console would retail at $700 and 800 euros, a higher price than the current PlayStation 5.

Sony's gaming division has endured tough times this year with PlayStation 5 missing its sales targets and announcing 900 job cuts -- some eight percent of its workforce.

Analysts say gaming enjoyed a huge boost in popularity during Covid lockdowns, attracting huge investment.

But the money has largely dried up and gaming firms are struggling.

Analyst Daniel Ahmad of Niko Partners pointed out that Sony had already tried to boost sales of its previous console by releasing a pro version in 2016.

But the PlayStation 4 Pro had limited impact, Ahmad wrote on X, because the pro version was "a premium product tailored for a niche audience".

"What will really drive PS5 sales is a lower price on the base models (and games like GTA6)," he wrote, referring to the forthcoming "Grand Theft Auto" sequel.