Sony on Thursday announced to raise the prices of the Playstation 5 Console but not for US users. It will be applied to several international markets amid global economic changes including high inflation. Its been two years since the Playstation 5-current generation console has been in use.
Jim Ryan, Sony CEO and Interactive Entertainment president announced on Thursday that the company will increase the retail price of the PS5. Moreover, the mentioned countries include Canada, Mexico, Australia, Japan, Europe, The U.K, and China excluding the United State of America.
Challenging economic conditions resulted in high prices of Sony Products
The Japanese-based company said that the hikes in the prices will be put into an effect immediately. Ryan said in a blog post that high global inflation rates are ‘’ impacting consumers and creating pressure on many industries’’. Additionally, Ryan said that ‘’challenging economic conditions’’ resulted in making the decision.
He said, ‘’ while this price increase is a necessity given the current global economic environment and its impact on SIE’s business’’. He further added, ‘’ Our top priority continues to improve the PS5 supply situation so that as many players as possible can experience everything that PS5 offers and what’s still to come.’’
Price for Australia
Here is the updated price of Sony’s two Playstation 5 models for Australia;
- PS5 with Ultra HD Blue-ray disc drive- AU$799.95 ( +AU$50 from launch price)
- PS5 Digital Edition- AU$649.95 ( +AU$50 from launch price)
In an open market, there is an even larger increase. In Europe, a €50 price increase will take the console’s price up 10% to €549.99 (£467). While, In Japan, a ¥10,498 price rise, more than 20%, takes the console to ¥60,478 (£373.74). Sony is not the first gaming company that raise its prices. Facebook also increased the price of its Meta Quest 2 VR headset by £100, almost 33% citing inflation pressure.
