Sony has announced that it will be increasing the price of the PlayStation 5 console. This price increase is being put into effect in select markets and includes both iterations of the console.
“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,” President and chief executive officer at Sony Interactive Entertainment, Jim Ryan wrote in a blog post.
“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,” Ryan added.
The markets that will see price increases are:
- Europe;
- UK
- Japan;
- China;
- Australia;
- Mexico;
- Canada.
However, while South Africa is not mentioned explicitly, a footnote on the announcement is cause for concern.
“Select markets in EMEA, APAC, and LATAM not listed above may also receive price increases. Please check with your local retailer,” reads the footnote.
We’ve popped a mail through to SIE’s local representation and we will provide further updates when we know more.
While Ryan went on to say that SIE’s top priority is improving the PS5 supply situation globally, this price increase is unlikely to help move those consoles. Hopefully, once supply improves Sony will take Nvidia’s approach and reduced prices.
