The PlayStation 5 is about to get more expensive in most major markets, and Sony says you can blame continued inflation and other global economic problems.
Sony announced today on the PlayStation blog that it will increase the price of both editions of the PS5 in Europe, the UK, the Middle East, Africa, Asia, Latin America and Canada. The United States appears to be the only major market not to receive a price hike.
“The global economic environment is a challenge that many of you around the world are undoubtedly experiencing,” the blog post states. “We are seeing high global inflation rates, as well as unfavorable currency trends, impacting consumers and putting pressure on many industries.”
The price increases are as follows:
PS5 with Ultra HD Blu-ray Disc Drive – €549.99, up from €499.99
PS5 Digital Edition – €449.99, up from €399.99
PS5 with Ultra HD Blu-ray Disc Drive – £479.99, up from £449.99
PS5 Digital Edition – £389.99, up from £359.99
PS5 with Ultra HD Blu-ray Disc Drive – ¥54,980 yen, up from ¥49,980
PS5 Digital Edition – ¥44,980 yen, up from ¥39,980
PS5 with Ultra HD Blu-ray Disc Drive – ¥4,299 Yuan, up from ¥3,899 Yuan
PS5 Digital Edition – ¥3,499 Yuan, up from ¥3,099 Yuan
PS5 with Ultra HD Blu-ray Disc Drive – AUD$799.95, up from AUD$749.95
PS5 Digital Edition – AUD$649.95, up from AUD$599.95
PS5 with Ultra HD Blu-ray Disc Drive – MXN $14,999, up from MXN $13,999
PS5 Digital Edition – MXN $12,499, up from MXN $11,499
PS5 with Ultra HD Blu-ray Disc Drive – $649.99 CAD, up from $629 CAD
PS5 Digital Edition – $519.99 CAD, up from $499 CAD
Unfortunately, it is not clear from the blog post whether this price increase will eventually be brought down again, and if so, when. Sony concludes its blog post by stating its top priority is to improve the PS5 supply situation, which has struggled since the console’s launch due to persistent chip shortages.
Sony’s move follows a very similar move by Meta, which pushed the price of Meta Quest 2 up $100 late last month for the same reasons. Piers Harding-Rolls of Ampere Analysis suggests in his own blog that Sony’s move was necessary to pass on the continued cost increases affecting the component supply chain. Harding-Rolls predicts the price hike will have a “minimal impact” on sales due to continued strong demand, adding that there is no indication for the time being that Microsoft will make the same move. However, it can take advantage of Sony’s price increase to increase the value of its own hardware.
New Sony PlayStation 5 console covers and DualSense colors
Ampere Analysis estimates that Sony sold 21 million PS5s by June 2022, while Xbox series consoles sold 13.8 million.
Rebekah Valentine is a news reporter for IGN. You can find her on Twitter @duckvalentine.