The theme that both consoles will be similar in price and performance means we ought to maybe expect:
PS5: $499
Xbox Series X: $499
Lockhart @ $399
The predictions that people have posted with Lockhart at $299 seems too low once you consider the internals there. It's more than "just 4 TF GPU" - it will cost money to produce. $399 launch is $100 off what the Xbox One X retails for today and can be considered a solid replacement for, in 2020.
if the gpu is based on the 5500m series, it will be around half the size of the series x APU. or cost half as much to make. Assuming $150 for the series X APU, they are saving $75 there. If its $200, they save a full one hundred.
it has no disc drive, thats an additional $30 in savings.
It should have a smaller SSD. 500GB vs 1TB. no idea of the costs here but lets assume $20 minimum.
It shouldnt require vapor chamber cooling. thats another $20.
Smaller form factor. thats another $10.
4GB of RAM. Another $20.
$75+20+10+20+20+30=$175. it gets them very close to hitting $299.