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Sony has announced a new, slimmer model of PlayStation 5 set for release in the 2023 holiday season. The new model improves the current PS5 design in several key areas. However, if you already own a PS5, should you upgrade?

It's Gotten Smaller

One of the most frequent complaints about the old PS5 model from the day it launched was its size. Although both the PS5 and Xbox Series X have similar internal volumes, many people found it hard to fit Sony's ivory tower console into their entertainment centers.

While the new model still has the same general shape, it's had the shrink-ray put to it. This PS5 has 30% less volume and 18% or 24% less weight compared to the previous disc and discless models.

The new PS5s do not have a vertical stand in the box, which is now a separate $30 purchase, so if you want to stand your PS5 upright, the price has effectively been increased by that amount.

Connectivity Hasn't Changed (Much)

Connectivity is essentially the same in the new PS5. The only real difference is that the USB Type A port on the front of the PS5 will now be a USB Type C port. However, it's still running at USB 2.0 speeds.

You've Got More Disc Flexibility

PS5 Drive Attachment

If you bought the initial digital-only PS5, that was a commitment to do away with discs for good, with your only alternative being a whole extra disc-based PS5. With the new model of PS5, if you buy a disc-less model and change your mind later, you can install a disc drive. So now there's no reason to pay for a drive if you really believe you won't need it, and you can still get it if circumstances change.

This is also a nice feature since a disc drive with moving parts is one of the more likey components to fail, now it's even easier to replace or perhaps upgrade with a different peripheral should Sony every decide to make one.

Base Storage Is Better

The new PS5 model now comes with 1TB of SSD space rather than 850GB. An extra 150GB is nothing to sniff at, that's about one whole Call of Duty. But if extra storage is all you need, remember that you can slap a multi-terabyte SSD into your current PS5's expansion slot for far less than the price of a whole new PS5.

WD Black 1TB SN850X NVMe Internal Gaming SSD

This WD Black drive has Gen 4 speeds and it's perfect for your gaming rig or even your PlayStation 5.

You're Not Getting a Performance Bump

Putting the specifications for the old and new PS5 model side by side yields no on-paper performance differences. These are the same chips running at the same speeds. In other words, this is by no means a PS5 "Pro" as we had with the PS4 Pro. There are likely to be no performance differences compared to the old model at all.

The Old Model Is Going Away

This new PS5 design is the official replacement for the original model of PS5. According to Sony, once the stock of original design PS5s is sold, that's it. Unless there's a good clearance sale, there's little reason to buy the older model if you're in the market for a new PS5 since it's the new norm for a base PS5 unit.

The Bottom Line: Current PS5 Owners Need Not Apply

If your original PS5 is still functional and you don't have any serious issues with it, then the new model offers nothing worth forking over another $450 or $500 or $530 (if you want the vertical stand). When your current PS5 goes to the great console store in the sky, assuming that a PS5 Pro or PS6 isn't out yet, then it will be the only option anyway.