The PlayStation 5 starts at $400 and will launch on November 12

• Sony's next-generation game console, the PlayStation 5, will arrive on November 12 in select territories, with a worldwide launch coming on November 19.
• The PlayStation 5 starts at $400 for the digital edition.
• There are two versions of the console: one with a disc drive and one without. The disc-drive console costs $500.

The PlayStation 5 is nearly here: Sony's next-gen PlayStation console arrives on November 12 and starts at $400.

The Japanese electronics giant announced the long-awaited details during a livestream on Wednesday. The console will arrive in North America, Japan, Australia, New Zealand, and South Korea on November 12. Its worldwide launch is scheduled for November 19.

The PlayStation 5 Digital Edition costs $400, while the version with a Blu-ray disc drive costs $500.

Though the two consoles are capable of powering the same next-gen games, the digital edition is unable to read discs, while the standard model can. In practice, that means that the digital edition is able to play only downloaded games — the latest step that the video-game industry is taking to move away from physical video games.

Sony first unveiled the look of the PlayStation 5 in June during a similar livestream event.

The new console is a major visual departure from previous PlayStation hardware. It's white, asymmetrical, and has a set of fins sticking out of the top.

The PlayStation 5 console matches the new controller — the "DualSense" gamepad — which was revealed earlier this year.

Designwise, the two PS5 consoles are very similar.

As seen above, the digital edition is symmetrical, while the standard edition has a bump where the disc drive is located.

A handful of major games have been announced for the next-gen PlayStation, including first-party games like "Marvel's Spider-Man: Miles Morales" and next-gen versions of "Assassin's Creed" and "Call of Duty." Returning favorites like "Fortnite" will move to the PlayStation 5 at launch this November.

Check out the livestreamed PlayStation 5 showcase event right here:

Got a tip? Contact Business Insider senior correspondent Ben Gilbert via email (bgilbert@businessinsider.com) or Twitter DM (@realbengilbert). We can keep sources anonymous. Use a nonwork device to reach out. PR pitches by email only, please.