Sony's PlayStation 5 gets costlier in US: Check new prices
What's the story
Sony has announced a price hike for its PlayStation 5 (PS5) consoles in the US. The increase, which will take effect from today, sees the standard PS5 with disk drive and the digital edition both getting a $50 bump. The new prices will be $549.99 for the disk version and $499.99 for the digital one. The high-end PS5 Pro model will now cost $749.99, also up by $50 from its previous price tag of $699.99.
Economic factors
Price hike due to ongoing global market volatility
Isabelle Tomatis, Vice President of Global Marketing at Sony Interactive Entertainment, issued a statement explaining the decision to raise PS5 prices. She said, "Similar to many global businesses, we continue to navigate a challenging economic environment." Tomatis added that this was a difficult decision but necessary in light of the current circumstances. The price hike comes amid ongoing global market volatility due to US tariffs and other factors.
Industry trend
Hikes seen across the gaming industry
Sony's decision to raise PS5 prices is not an isolated incident. Other gaming companies, including Nintendo and Microsoft, have also increased the prices of their consoles and peripherals. The move is largely attributed to economic challenges such as supply chain issues and manufacturing costs exacerbated by US import taxes. Earlier this year, Sony had already raised PS5 prices in the UK, mainland Europe, Australia, and New Zealand.
Accessory prices
What about PS5 accessories?
Despite the price hike on the consoles, Sony has not announced any changes to the prices of PS5 accessories. The company has also not commented on whether this price increase will be applicable to other markets outside the US.