Sport & Entertainment
WORLD | Aug 25, 2022

Sony announces PS5 price increase

Shemar-Leslie Louisy

Shemar-Leslie Louisy / Our Today

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Reading Time: 2 minutes

Sony is citing global inflation rates and “adverse currency trends” as the reason for the immediate price increase of its Playstation 5 gaming console.

Jim Ryan, president and CEO of Sony Interactive Entertainment (SIE), made the announcement on the company website earlier today (August 25).

“Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price of the PlayStation 5 in select markets across Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada.”

Sony ceo jim ryan

Ryan noted, however, that there would 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 everything that PS5 offers and what’s still to come,” Ryan continued.

Obtaining a PS5 was notoriously difficult for gamers due to shortages stemming from the supply chain issues and scalpers – people who bought the consoles in bulk early to resell at extreme prices.

Ryan indicated that, unless otherwise noted, all the following increases are effective immediately.

  • Europe
    • PS5 with Ultra HD Blu-ray disc drive – €549.99
    • PS5 Digital Edition – €449.99
  • UK
    • PS5 with Ultra HD Blu-ray disc drive – £479.99
    • PS5 Digital Edition – £389.99
  • Japan (effective Sept. 15, 2022)
    • PS5 with Ultra HD Blu-ray disc drive – ¥60,478 yen (including tax)
    • PS5 Digital Edition – ¥49,478 yen (including tax)
  • China
    • PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan 
    • PS5 Digital Edition – ¥3,499 yuan
  • Australia
    • PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
    • PS5 Digital Edition – AUD $649.95
  • Mexico
    • PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
    • PS5 Digital Edition – MXN $12,499
  • Canada
    • PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
    • PS5 Digital Edition – CAD $519.99
PS5 by PlayStation is displayed in a GameStop in Manhattan, New York, U.S., December 7, 2021. (File Photo: REUTERS/Andrew Kelly)

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