Video game fans have been waiting for the new consoles since March. The new consoles promise faster load times, souped up graphics and new games.
Sony's PS5 will come in two models, a standard version with an Ultra HD Blu-ray disc drive and a digital-oriented version.
Sony previewed several games, including Spider-Man: Miles Morales, Harry Potter: Hogwarts Legacy and Final Fantasy XVI.
Facebook said its Oculus Quest 2 virtual reality headset will ship in time for the holidays.
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