Sony has just announced that, thanks to “challenging economic conditions”, the price of the PlayStation 5 is set to go up in several major markets such as Japan, Europe and Canada. Indeed, the US appears to be the only major PlayStation region not to see a price increase, with buyers everywhere from China to Australia to Mexico also taking the plunge. I’m in Australia for example and last year I bought my PS5 disc version at retail for AUD$750. It will now cost $800 AUD. In the UK the disc version ranges from £450 to £480, while in the EU from €500 to €550. The full list of affected regions and the new suggested retail prices — which, except for Japan, are effective immediately — are below: Europe PS5 with Ultra HD Blu-ray drive – €549.99 PS5 Digital Edition – €449.99 United Kingdom PS5 with Ultra HD Blu-ray Disc Drive – £479.99 PS5 Digital Edition – £389.99 Japan (effective September 15, 2022) PS5 with Ultra HD Blu-ray Drive – ¥60,478 (tax included) PS5 Digital Edition – ¥49,478 (tax included) China PS5 with Ultra HD Blu-ray drive – ¥4,299 yuan PS5 Digital Edition – ¥3,499 yuan Australia PS5 with Ultra HD Blu-ray Drive – AUD$799.95 PS5 Digital Edition – AUD$649.95 Mexico PS5 with Ultra HD Blu-ray Drive – MXN $14,999 PS5 Digital Edition – MXN $12,499 Canada PS5 with Ultra HD Blu-ray Drive – $649.99 CAD PS5 Digital Edition – $519.99 CAD Sony’s full statement reads: The global economic environment is a challenge that many of you around the world are no doubt facing. We are seeing high global inflation rates, as well as adverse exchange rate trends, affecting consumers and putting pressure on many industries. Based on these difficult economic conditions, SIE has taken the difficult decision to increase the recommended retail price (RRP) of the PlayStation 5 in selected markets across Europe, the Middle East and Africa (EMEA), Asia Pacific (APAC ), Latin America (LATAM), as well as Canada. There will be no price increase in the United States. 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 all that offers the PS5 and what’s to come. Thank you for your continued support. The PlayStation 5 launched almost two years ago, and by now you’d expect consoles to see price cuts, not increases (the PS4, for example, got its first cut in 2015, two years after launch). Indeed, this is the first time I can ever remember a console price going up all over the place like this. Then again, I can’t ever remember a console being released in the midst of a pandemic, global chip shortage, and inflation crisis.
