The PlayStation bosses finally decided to raise the price of PlayStation 5 gaming consoles across multiple major markets. Sony raised the prices of both PlayStation 5 versions (Blu-ray and digital) in Europe, the UK, China, Australia, Mexico, Canada, and even at home, in Japan. The US prices stay the same for the time being.
The changes are effective immediately, while Japan will see the price increase starting on September 15, 2022.
The price of PlayStation 5 Gaming Console rises in certain Countries
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The console maker said they had to up the prices of PlayStation 5 due to growing economic challenges across the globe. The official announcement from Sony Interactive Entertainment includes the following bit:
“We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries. Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price (RRP) of PlayStation 5 in select markets.”
The price increases due to the Hardware Shortage Issue
The price increase in Europe is around 10% as the Disc Drive version of PS5 has now been priced at €549.99, which is €50 more than the original price. For UK residents, however, the price increase is around 6%, as the Disc Drive version will now be sold at the retail price of £479.99.
Sony has been struggling with the hardware shortage issue for an entire year now, which forces the company to limit its PS5 production despite a huge request in the market for the new gaming console.
It remains unknown whether we would see an increase in the price of other gaming consoles such as the Nintendo Switch and Xbox Series X|S in the European countries anytime soon, but Microsoft might keep the price at the same amount to increase its presence in the European market.