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Sony made an unexpected announcement today, stating that it is planning on raising the prices of the PlayStation 5 in several markets. The price may hike 20% or more in some regions. Sony cited the reasons being related to economic pressure and inflation.
Canada, Mexico, Europe, the U.K., Australia, Japan, and China will be affected by the price hikes, but the United States will not be.
In a PlayStation blog post, Sony Interactive Entertainment president and CEO Jim Ryan said: “While this price increase is a necessity given the current global economic environment and its impact on SIE’s business, 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.”
Many companies have been speaking out on price hikes lately, with Meta’s Quest 2 VR headsets going up by $100. Nintendo stated that it was not currently planning on hiking prices for the Nintendo Switch. Microsoft confirmed following Sony’s announcement that there are currently no plans to increase prices on the Xbox.
Sony has been struggling to meet PS5 demand, with the biggest reason being the semiconductor chip shortage, as well as supply chain issues, and hikes in component prices.
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Zainah Yousef
Zainah Yousef is the author of The Fallen Age Saga and specializes in gaming, social media advice, and reviews. She's been writing all her life and she probably won't stop anytime soon.
