The PS5 launched in 2020 with the promise of a dazzling new era of gaming, boasting lightning-fast load times, next-generation visuals and immersive, haptic feedback in the form of the innovative DualSense controller.

More than three years later, Sony’s behemoth has cemented itself as this generation’s must-have home console. So, with a newly updated, slimmer design and a much larger catalogue of games (and with those infamous stock shortages a thing of the past), is it still worth investing in the PS5 in 2024?

Last year saw Sony replace the original PS5 with the PS5 Slim, a slightly more compact version of the console but one that’s not radically different from the device Sony launched in 2020. Under the hood, the newly redesigned PS5 still runs on the same punchy hardware specifications, giving it roughly similar performance to its main rival, the Xbox series X.

That means you’re getting 120 frames per second at pin-sharp 4K resolutions, or up to 60 frames per second at 8K, as well as advanced visual effects such as ray-tracing. The custom SSD also allows for whip-fast loading times – games such as Spider-Man 2 used this feature to great effect, letting you fast-travel across the city in fractions of a second without having to so much as glance at a loading screen.

Sony also expanded the PS5’s appeal with new peripherals, most notably the PSVR2, the virtual reality headset that’s still the only way to play Horizon Call of the Mountain. Meanwhile, the PlayStation Portal offered players a way to access their PS5 games from anywhere with a fast enough wifi connection. So, how does the PS5 hold up in 2024?

How we tested the PlayStation 5

Our tester’s very own PS5 console has been well and truly put through its paces (Steve Hogarty)

We’ve been playing games on the original PlayStation 5 since shortly before it launched in 2020, comprehensively testing and comparing its capabilities alongside this generation’s other two contenders: the Nintendo Switch and Xbox series X. Over the course of nearly three years, we’ve considered its performance and graphics, as well as Sony’s library of exclusives.

We also fully tested and reviewed Sony’s second foray into the world of virtual reality, the PSVR2. You can read our full review of the PSVR2 to find out more about the add-on, which unlocks new games and experiences only possible on PS5.

PlayStation 5

CPU: Custom 8-core AMD Zen 2 variable frequency up to 3.5 GHz

GPU: Custom AMD RDNA 2 36 CUs variable frequency up to 2.23 GHz 10.3 TFLOPS peak

Memory: 16 GB/256-bit GDDR6 SDRAM + 512 MB DDR4 RAM (for background tasks)

Storage: Custom 1TB PCIe 4.0 NVMe SSD

Resolution: Up to 8K

Why we love it

Some unmissable exclusives

3D audio

Haptic feedback

Backwards compatible with lots of PS4 titles

Take note

Still absolutely massive and weird looking

The PS5 packs a serious punch, with performance and graphics rivalling a mid- to high-end gaming PC. Games load in a flash, thanks to the custom-designed SSD, while support for 4K resolutions at 120fps allows for stunning and immersive visuals. The clever haptic feedback of the DualSense controller – in which the shoulder triggers can dynamically add tension to create the sensation of, for example, pulling a trigger or stretching a bow – also works to add another layer of immersion.

Since launch, Sony has slowly built up a stellar library of exclusives, from the sprawling open world of Horizon Forbidden West and the web-slinging action-combat of Spider-Man 2 to the time-bending roguelike Returnal and the Pixar-grade platformer Ratchet & Clank: Rift Apart.

The PS5 is also the only place to play the Final Fantasy 7 remake trilogy, and the only console on which you can play the critically acclaimed The Last of Us.

Whereas Microsoft is planning to allow a few of its cherished Xbox exclusives to make their way to the PS5, Sony is keeping its upcoming exclusives all to itself, such as the post-apocalyptic Death Stranding 2. You’ve also got multi-platform classics such as Elden Ring, Red Dead Redemption 2 and Cyberpunk 2077, which shine on the PS5’s hardware.

Like the Xbox series X, the PS5 isn’t just a gaming machine. You can stream your favourite shows and movies, with access to major platforms such as Netflix, Disney+, and HBO Max. Grab the disc edition of the console and it will double as a Blu-ray player for those still clinging on to their physical media collections.

In terms of appearance, even though the PS5 Slim is reportedly 30 per cent smaller than the original PS5 it’s still a freakishly large console. Whereas the Xbox series X is an unassuming black cuboid, and able to blend in with most living rooms, the PS5 is a bizarre-looking object that wouldn’t look out of place looming over the Dubai skyline. Those sweeping white contours will split opinion, but we consider the thing a bit of an eyesore compared to Microsoft’s machine.

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The Verdict: PlayStation 5

For most players, the PS5 is still a compelling choice of console in 2024. A catalogue of exclusive games – many of them truly unmissable experiences – gives the PS5 a slight edge over the (technically more powerful) Xbox series X. That’s a sentiment borne out by global sales figures – the PS5 outsold the Xbox three-to-one in 2023.

That said, Xbox Game Pass – the Netflix-style service that lets you access a rolling library of games for a subscription fee – is a much better value proposition than Sony’s equivalent service. If the PlayStation 5’s exclusives don’t move you, and you couldn’t care less about virtual reality, the Xbox series X is the better option for players on a limited budget.

Want to give VR gaming a go? Check out our round-up of the best VR headsets