The PlayStation 5 by Sony was released in November 2020 and has been a major hit. The console often sells out quickly, with only the lucky ones managing to get their hands on it. With the supply chain and lockdown issues in China, Sony has struggled to keep up with the demand.
Sony has announced it will be increasing the price of PlayStation 5 in select markets such as Europe, the Middle East, Asia-Pacific, Africa, Latin America, and Canada. The prices in the US will remain unaffected.
Sony has increased the prices of both the disc and all-digital editions of the PlayStation 5. The company increased the prices by up to 10% in the markets of Europe & Japan, while the UK has received a 6% hike.
The official blog post mentions the reason behind the change to be challenging economic conditions. The company blames “high global inflation rates” and “adverse currency trends” for the price hike.
Jim Ryan, CEO of Sony Interactive Entertainment, explains,
We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries… 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.
Jim Ryan
Here are the revised prices:
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 from Sept 15)
- 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
While the PlayStation 5 prices in the US are the same as of now, Sony might be waiting for Xbox to change their console prices first. It won’t be surprising given their neck-to-neck competition. The PlayStation 5 disk edition costs $499.99 in the US.
About Sony
Sony Corporation is a Japanese multinational conglomerate corporation headquartered in Kōnan, Minato, Tokyo. The company operates as one of the most comprehensive media companies on the planet and also holds the distinctions of being the largest video game console company and the second largest video game publisher in the world.
Its gaming and network services arm Sony Interactive Entertainment (formerly Sony Computer Entertainment) is best known for producing the popular line of PlayStation consoles.
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