Sony hikes the price of its PlayStation 5 console because of economic conditions

Source: News Agencies

Image: Sony

There’s some bad news for game lovers who haven’t been able to get their
hands on the PlayStation 5 yet. Sony has increased price of the PS5 in many
countries. It attributed it to the global economic pressures, including high
inflation rates and “adverse currency trends.”

The price changes are effective immediately in most key markets. They apply
to the UK, Canada, Europe, Japan, China, Australia and Mexico. There was no
increase in prices in the US.

The Japanese gaming giant intended the price hikes to be effective
immediately except in Japan where they will begin on September15.

“The global economic environment is a challenge that many of you around the
world are no doubt experiencing,” Sony said in a blog post. “We’re seeing high
global inflation rates, as well as adverse currency trends, impacting consumers
and creating pressure on many industries.”

Image: Sony

The company said that “based on these challenging economic conditions,” it
has decided to raise the price of its flagship console.

Here’s the list of new prices, according to PlayStation Blog:

Europe

PS5 with Ultra HD Blu-ray disc drive – €549.99 (increase of €50)

PS5 Digital Edition – €449.99 (increase of €50)

UK

PS5 with Ultra HD Blu-ray disc drive – £479.99 (increase of £30)

PS5 Digital Edition – £389.99 (increase of £30)

Japan (effective Sept. 15, 2022)

PS5 with Ultra HD Blu-ray disc drive – ¥60,478 yen (including tax, increase
of ¥10,498)

PS5 Digital Edition – ¥49,478 (including tax, increase of ¥10,498)

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 (increase of AUD $50)

PS5 Digital Edition – AUD $649.95 (increase of AUD $50)

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 (increase of CAD $20)

PS5 Digital Edition – CAD $519.99 (increase of CAD $20)

 

 “While this price increase is a necessity
given the current global economic environment and its impact on Sony
Interactive Entertainment’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,” said Sony
president and CEO Jim Ryan.