Sony hikes PS5 prices in some markets, US consumers spared
Aug 25, 2022 - 11:05 AM
TOKYO, JAPAN — Sony’s PlayStation 5 is already notoriously difficult to find, and on Thursday the popular console’s manufacturer said that it will also become more expensive for gamers in many parts of the world.
Sony Interactive Entertainment (SIE) has recommended raising the console’s retail price in Europe, the United Kingdom, Japan, China, Australia, Mexico and Canada, the company’s top official Jim Ryan said.
US consumers will be spared from the hikes, Ryan said, without providing further explanation.
The price rises will see a PS5 Digital Edition retail in Europe for 449.99 euros ($450), up from 399.99 euros.
The same console will be sold in the UK for 389.99 pounds ($462), up from 359.99 pounds, and in Japan for 49,478 yen ($363), up from 43,978 yen.
Sony blamed “high global inflation rates as well as adverse currency trends” for the price increases.
“Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price of PlayStation 5 in select markets,” Ryan said in a statement.
Sony’s current top priority is to address a supply crunch that has made PS5s difficult to buy, he said.
Earlier, console competitor Nintendo said it was not considering raising prices for the moment.
“In order to offer unique entertainment to a wide range of customers, we want to avoid pricing people out,” President Shuntaro Furukawa told the Nikkei business daily in an article published earlier this month.
“Our competition is the variety of entertainment in the world, and we always think about pricing in terms of the value of the fun we offer,” he said.