Sony is substantially increasing the price of the PS5, blaming the current ‘global economic climate’ for the change.
The tech giant said the price of the console will leap by 10 percent in Europe, meaning the PS5 with a disc drive will now cost €549.99/ £479.99, or €449.99/£389.99 for the digital edition.
It warned that similar increases are also coming in China, Australia, Mexico, Canada and Japan, and that all the price changes will come into effect immediately, with the exception of the latter, where the jump in price begins on 15 September 2022.
Jim Ryan, the president and chief executive of Sony Interactive Entertainment, said it had been a 'difficult' decision to bring in price increases.
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He said in a statement: “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.”
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Ryan confirmed there would be ‘no price increase in the United States’.
He continued: “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.”
The new RRPs (all effective immediately unless otherwise stated)
Europe
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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
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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)
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China
PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan
PS5 Digital Edition – ¥3,499 yuan
Australia
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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
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PS5 Digital Edition – MXN $12,499
Canada
PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
PS5 Digital Edition – CAD $519.99
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Topics: PlayStation 5, PlayStation, Technology, News
Jess Hardiman