PlayStation 5 retail price is going up, Sony announces

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Nearly two years into the life of the PlayStation 5, Sony is taking the unusual step of raising the price of its current-generation console. Sony Interactive Entertainment president and CEO Jim Ryan said Thursday that the company will increase the retail price of the PS5 in Canada, Mexico, Europe, the UK, Australia, Japan, and China, but not, apparently, in the United States.

Ryan said in a post on Sonys 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 SIEs 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 whats still to come.

Here are the updated prices of Sonys 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 AU $ 799.95 (+ AU $ 50 from launch price) PS5 Digital Edition AU $ 649.95 (+ AU $ 50 from launch price)

Mexico

PS5 with Ultra HD Blu-ray disc drive MX $ 14,999 (+ MX $ 1,000 from launch price) PS5 Digital Edition MX $ 12,499 (+ MX $ 1,000 from launch price)

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)

The standard PlayStation 5 still costs $ 499.99 in the US, while the discless PS5 Digital Edition costs $ 399.99.

Sonys move follows a similar price update from Meta, which raised the price of its Quest 2 virtual reality headsets by $ 100 in the US in August. But the move is, as previously mentioned, unusual. Typically, the cost of console hardware is lowered over time by hardware manufacturers in an effort to draw in more price-conscious customers. But Sony has struggled to match the PS5s supply to its demand, and component costs, particularly semiconductors, are still supply constrained.

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