It's been three years since the PS5 first went on sale, and a new upgraded design should help one fit a lot more easily in your TV cabinet. The suddenly announced redesigned PS5 arrives in November, is 30% smaller and weighs anywhere from 18% to 24% less  depending on which model you pick.

For months, Sony had been expected to release a new slimmer PS5. And that's exactly what's happening, although right now the price doesn't seem to be dropping. In fact, for the digital version, it's going up by $50.

This new PS5 has an optional snap-on Ultra HD Blu-ray drive, meaning you could choose to upgrade a new digital model with disc function later on. That's great news on decision-making FOMO. The new PS5 with disc drive is $500, and the digital-only model is $450, while the Ultra HD Blu-ray drive on its own will cost $80.

While the updated PS5 with a Blu-ray drive is the same price as the current model, the new digital-only PS5 is $50 more expensive. The new PS5s do come with larger 1TB hard drives.

Both models will come packaged with a horizontal stand for laying the systems flat. If you want to stand the console upright, you'll need to buy a separate vertical stand for $30. 

Console covers will also make a return, although with a new design to match the updated form factor. Starting in early 2024, PS5 owners can choose from an all-matte black, volcanic red, cobalt blue or sterling silver cover colors priced at $55.

Sony's already having a big hardware year for PlayStation, with the PSVR 2 launching back in February and a second-screen controller handheld accessory, PlayStation Portal, also arriving in November. 

Sony hasn't mentioned a specific launch date for the redesigned models but mentioned that the current stock of older PS5s will be gradually replaced with the newer slimmer models.