PlayStation 5 retail price is going up, Sony announces

Sony makes an unusual move almost two years into life with the PlayStation 5. raisingThe current-generation PS5 console’s price. President and CEO of Sony Interactive Entertainment, Jim Ryan, said that they will raise the price for the PS5 in Canada and Mexico as well as Australia, Japan and China. However, it is not expected to increase in the United States.

Ryan said in a post on Sony’s PlayStation Blog that high global inflation rates and adverse currency trends are “impacting consumers and creating pressure on many industries.” Ryan blamed “challenging economic conditions” in announcing the decision.

“While this price increase is a necessity given the current global economic environment and its impact on SIE’s business,” Ryan said, “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.”

Here are the updated prices of Sony’s two PlayStation 5 models, which with the exception of Japan, are effective immediately:

Europe

• PS5 with Ultra HD Blu-ray disc drive – €549.99 (+€50 from launch price)
• PS5 Digital Edition – €449.99 (+€50 from launch price)

UK

• PS5 with Ultra HD Blu-ray disc drive – £479.99 (+£30 from launch price)
• PS5 Digital Edition – £389.99 (+£30 from launch price)

Japan (effective Sept. 15, 2022)

• 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 – CA$649.99 (+ CA$20 from launch price)
• PS5 Digital Edition – CA$519.99 (+ CA$20 from launch price)

In the United States, the standard PlayStation 5 is still available for $499.99. The discless PS5 Digital Edition can be purchased for $399.99.

Sony’s move follows a similar price update from Meta, which raised the price of its Quest 2 virtual reality headsets by $100 in the U.S. in August. However, the unusual move isn’t common. In order to appeal to more price conscious customers, hardware makers tend lower the cost of console hardware. But Sony has struggled to match the PS5’s supply to its demand, and component costs, particularly semiconductors, are still supply constrained.

Developing…