Sony plans a price hike on the PlayStation 5

by | Aug 25, 2022 | Technology

Interested in learning what’s next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Register today.

Sony officially announced that the PlayStation 5 is about to become more expensive in most markets. It’s bumping the price up due to “challenging economic conditions” and its ongoing supply problems.

The company listed out the new retail prices for the console in Europe, the UK, Japan, China, Australia, Mexico and Canada in a blog post. The only major market that Sony explicitly said would not receive a price increase is the United States.

As for why the company is increasing the price, Sony Interactive Entertainment president Jim Ryan said in the blog post: “We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries.” This echoes the reasons of Meta, which increased the price of the Meta Quest 2 last month citing an increase in “the costs to make and ship our products.”

The PlayStation 5 is already something of a unicorn, in that users are having a difficult time finding one thanks to the component shortages. Ryan acknowledged the lacking supply, saying, “[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.”
GamesBeat’s creed when covering the game industry is “where passion meets business.” What does this mean? We want to tell you how the news matters to you — not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Learn more about membership.

Article Attribution | Read More at Article Source

Share This