We’re only three or four months away from the official launch of next-gen consoles like the PlayStation 5, but Sony has yet to reveal any concrete details about its official price or release date.

Sony has reported increased profit from strong demand for gaming products, but things remain uncertain due to the ongoing COVID-19 pandemic. This was proven when its operating profit for the quarter ended in June was 228 billion yen (US$2.15 billion), compared to average analyst estimates of only 137 billion yen.

Speaking with Bloomberg, an official at the PlayStation division said that Sony’s next announcement regarding the PS5 is tentatively scheduled for this month sometime in August 2020, including potential price and release date reveals. However, the individual requested not to be identified because the plan is not yet publicly announced at the time of writing.

The PS5 is expected to cost around US$500 after accounting for many factors and predictions. However, take that with a grain of salt for now, since the official announcement might just be around the corner if sources are to be believed.

Who knows, more details for the PS5 might even be announced at the upcoming Gamescom 2020 Opening Night Live at 2am GMT+8 on 27 August 2020.

With only several months left to Holiday 2020, time is running out for both Sony and Microsoft to fully capitalize on the moment and lead the way. In the meantime, head on over here to check out all our other PS5-related news and feature articles.