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The PlayStation DualSense controller and PlayStation 5 console.
Sony has announced an increase in the price of its flagship PlayStation 5 console in several markets, including Europe, Australia, and New Zealand, attributing this decision to a “challenging economic environment.”
In Europe, the PS5 Digital Edition will be priced at 499.99 euros (approximately $569.90), a significant rise from its previous price of 449.99 euros, according to a blog post released by the company on Sunday. For the U.K., the recommended retail price has shifted to £429.99 from £389.99.
Interestingly, there has been no price adjustment for the PS5 with HD Blu-ray disk drive in Europe and the U.K. Additionally, the PS5 Pro, an upgraded version of the console that was introduced last year, will also maintain its current pricing.
The price increases also extend to sales in Australia and New Zealand, reflecting broader economic challenges facing the gaming industry.
Sony described the decision to raise these prices as “tough.” The company cited factors such as high inflation rates and fluctuating exchange rates as influencing their pricing strategy.
The economic climate has been volatile, particularly following recent developments in global financial and currency markets triggered by U.S. trade policy changes. Notably, U.S. President Donald Trump had announced “reciprocal tariffs” affecting over 180 countries, though he has since relaxed some of these tariffs to facilitate ongoing negotiations.
Serkan Toto, CEO of the Tokyo-based gaming consultancy Kantan Games, expressed a belief that similar price hikes could be forthcoming in the U.S. market as well. “I would be very surprised if Sony was able to keep the PlayStation prices in the U.S. stable,” Toto stated in an interview. He added that the current climate presents a favorable opportunity for the company to implement price increases with limited backlash from consumers.
He anticipates price adjustments in the U.S. could happen relatively soon, contingent on future developments regarding tariffs and economic conditions.
This is not the first instance of Sony increasing the price of the PS5 since its launch over four years ago. The company previously raised prices in 2022 across various regions and again adjusted pricing in Japan last year.
Source
www.cnbc.com