In a move I don’t think any of us actually coming to fruition, Sony is increasing the price of the PS5 nearly two years into its lifecycle. The announcement was made today by SIE President and CEO Jim Ryan via the PlayStation Blog. The increase will affect several major markets including Canada, Japan, the UK, and more.
Ryan offered the following statement with regard to the reasoning:
The global economic environment is a challenge that many of you around the world are no doubt experiencing. We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries. Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price (RRP) of PlayStation 5 in select markets across Europe, 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.
The new pricing is detailed below:
- PS5 with Ultra HD Blu-ray disc drive – €549.99
- PS5 Digital Edition – €449.99
- 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)
- PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan
- PS5 Digital Edition – ¥3,499 yuan
- PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
- PS5 Digital Edition – AUD $649.95
- PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
- PS5 Digital Edition – MXN $12,499
- PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
- PS5 Digital Edition – CAD $519.99
The panel was asked this question on Bitcast a couple of weeks ago and we all said definitively it would never happen. Yet here we are. It’s a surprising move, not because of the reasoning, that makes sense, but rather the impact it can have on brand loyalty. It’s unheard of in the console market but then we are in different times.
What do you think about this? Leave us a comment to let us know and stay tuned for the panel discussion on this Sunday’s Bitcast!