Sony has just revealed plans for a PS5 price increase which will be effective immediately. Sony president and CEO Jim Ryan just announced the price increase on the official PlayStation blog. Various markets will be affected, including Europe, the UK, Japan, Canada, China, Mexico, and Australia. According to Ryan, there will be no price increase for the PS5 in the US.
JUST IN: Sony is raising PS5 prices in several regions due to "high global inflation rates." pic.twitter.com/VDY8TvWs3a
— Watcher.Guru (@WatcherGuru) August 25, 2022
Looking at the European retail price, there seems to be a 10% price increase, which can be considered quite a lot, as the previous PS5 disc model sold for $499.99. In the very same blog post, the CEO of PlayStation gives no clear explanation on why the price has not been increased in the US.
According to the blog post, the price increase will be effective immediately, except in Japan, where it will be effective on September 15th, 2022. Detailed below are the new prices that will be implemented in the following region:
PS5 with Ultra HD Blu-ray disc drive – €549.99
PS5 Digital Edition – €449.99
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 (including tax)
PS5 Digital Edition – ¥49,478 (including tax)
PS5 with Ultra HD Blu-ray disc drive – ¥4,299
PS5 Digital Edition – ¥3,499
PS5 with Ultra HD Blu-ray disc drive – AUD 799.95
PS5 Digital Edition – AUD 649.95
PS5 with Ultra HD Blu-ray disc drive – MXN 14,999
PS5 Digital Edition – MXN 12,499
PS5 with Ultra HD Blu-ray disc drive – CAD 649.99
PS5 Digital Edition – CAD 519.99
In the blog post, Ryan states the following:
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.
Considering the PlayStation 5 supply situation which still lingers on after almost two years, and how so many people have to resort to scalpers who mark up prices to get their PS5, this isn’t good news for the average customer. Games have already begun costing $70, and finding out that consoles will get their prices raised too is not going to fare well for Sony’s reputation.