Sony has made significant changes to the design of the PlayStation 5 console. According to Shurman, the volume of the new PS5 has been reduced by more than 30% and the weight has been reduced by 18% and 24% compared to previous models. The console now features four separate cover panels, with the top portion having a glossy look and the bottom portion remaining matte. The overall design still maintains the recognizable silhouette of the original PS5, but the new model has distinct features that set it apart.

The slimmed-down PlayStation 5 is available in two variations. One version includes a disc drive and is priced at $499.99, while the other version is digital-only and priced at $449.99. A major change made by Sony is that the Ultra HD Blu-ray Disc Drive for PS5 is now modular. This means that users who purchase the digital edition of the console can later separately purchase the disc drive for an additional $79.99. Additionally, both models come with a metal ringed stand for horizontally mounting the slim consoles.

In early 2024, PlayStation will release new console covers, including an all-matte Black colorway and the Deep Earth Collection colors in Volcanic Red, Cobalt Blue, and Sterling Silver. The prices for these PS5 Console Covers will start at $54.99, with more colors to be released later.