For the first time, there will also be a cheaper version of the consoles: the Playstation 5 Digital Edition (€399) and the Xbox Series S (€299). These game consoles work entirely digitally. So you cant put any game discs in them and have to download the games online.
Microsoft hopes that sales of the Series X and S will go a lot better than their older consoles. After all, twice as many Playstation 4 consoles have been sold as the Xbox One.
The new Playstation was unveiled in June. We made a video about it and talked to a game journalist. You can watch that back here:
The new Xbox will be on sale from 10 November. The Playstation a little later: it will be on sale from 19 November.