Playstation 5 prices go up due to ‘global economic environment, high inflation’, says Sony

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Sony’s Playstation 5, which has almost always been a rare availability ever since its 2020 COVID launch, could become even more inaccessible going forward. That is, thanks to a price increase that Sony has said would happen for the gaming console, as “global economic environment” and “inflation rates” affect production and the entire supply chain.

These price hikes will immediately apply to almost all of its major markets, except the US. A strong dollar over the past few months means dollar prices need not go up by much, a trend we have seen across the board in the consumer electronics space. All other markets such as Europe, Australia, UK, China, Canada and home turf Japan, will see price hike in the range of $30 to $80.

The new pricing below are effective immediately, according to an official Sony statement for the Press:

  • Europe
    • PS5 with Ultra HD Blu-ray disc drive – €549.99
    • PS5 Digital Edition – €449.99
  • UK
    • PS5 with Ultra HD Blu-ray disc drive – £479.99
    • PS5 Digital Edition – £389.99
  • Japan (effective Sept. 15, 2022)
    • PS5 with Ultra HD Blu-ray disc drive – ¥60,478 yen (including tax)
    • PS5 Digital Edition – ¥49,478 yen (including tax)
  • China
    • PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan
    • PS5 Digital Edition – ¥3,499 yuan
  • Australia
    • PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
    • PS5 Digital Edition – AUD $649.95
  • Mexico
    • PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
    • PS5 Digital Edition – MXN $12,499
  • Canada
    • PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
    • PS5 Digital Edition – CAD $519.99

The price rise is a rarity among gaming console makers. While Sony announces a price hike, both Microsoft and Nintendo have not announced any such hike, as they look to shore up dwindling sales against a more superior console in Playstation 5. Nintendo president Shuntaro Furukawa told Nikkei earlier this month that the company doesn’t have any immediate plans to raise Switch’s price.

Sony’s console has been in surging demand ever since launch, and is yet to reach any kind of stable demand-supply equilibrium, much to the despair of buyers.

“While this price increase is a necessity given the current global economic environment and its impact on SIE’s business, our top priority continues to be improving the PS5 supply situation so that as many players as possible can experience everything that PS5 offers and what’s still to come”, added Jim Ryan, President & CEO, Sony Interactive Entertainment.

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