https://apnews.com/8606be227f0596605992fc426a745cd5

Sony's upcoming PlayStation 5 video game console will cost $500 and launch Nov. 12, the company said Wednesday, setting up a holiday battle with Microsoft's Xbox Series X over whose new console will turn up under more trees this year.

Video game fans have been chomping at the bit for the new consoles, and not just because they've been stuck inside since March. The roughly 7-year life cycle of a video game console has been nearing an end. Both predecessor consoles, the Xbox One and the PlayStation 4, launched in 2013.