Sony has officially announced the PlayStation 5 Pro, set to launch on November 7, 2024, with a retail price of $699.99, marking a significant increase from the original PS5's price. The new console features enhanced graphics capabilities, including a 45% increase in rendering speed, advanced ray tracing, and improved performance for over 8,500 PS4 games. The PS5 Pro will come with a 2TB SSD and will not include a disc drive, which has drawn criticism from some gamers who feel the price is too high without this component. Sony aims to boost sales ahead of the holiday season as the gaming market has seen a decline in console sales. Additionally, rumors about a potential new handheld console that could run PS4 and PS5 games have resurfaced alongside this announcement, although its commercialization status remains uncertain. Overall, the PS5 Pro is positioned as a more powerful, AI-enhanced gaming system, but reactions to its pricing and features have been mixed among the gaming community.