Sony officially announced a new PS5 model with a detachable disc drive and 1TB of internal storage. Often referred to as the PS5 “Slim,” this new model is slightly slimmer and shorter than the existing one but will crucially replace both the PS5 and PS5 Digital Edition. In the US, the new model will cost $499.99 with the drive included, while the PS5 Digital Edition is $449.99.