Sony Raises Prices on PlayStation 5 Consoles Amid Global Economic Turmoil
LONDON (AP) — Sony announced it will raise prices starting Monday for some PlayStation 5 video game consoles in Europe, Australia, and New Zealand.
The company cited global economic turmoil as the reason for the price hikes, which include a minimum increase of at least 10%.
Price Increases Across Europe, Australia, and New Zealand
In Europe, the recommended retail price for the PS5 Digital Edition will go up to 499 euros ($570), from 449 euros in a previously announced pricing update in 2022.
- Europe: €499 (up from €449)
- United Kingdom: £430 (up from £389)
- Australia: AU$749 (up from AU$649)
- New Zealand: NZ$859 (up from NZ$504)
The PS5 Digital Edition is a slimmed-down version of the console that comes without a disc drive.
Standard and Pro Versions Unaffected in Europe and UK
Sony stated that the price for the standard PlayStation 5, which was released in 2020 and comes with a Blu-ray Disc drive, will remain unchanged in Europe and the U.K.
The same applies to the PS5 Pro version, which was released last year.
Global Economic Turmoil: Tariffs and Supply Chains
U.S. President Donald Trump's decision to impose tariffs on nations around the world has caused chaos in global manufacturing supply chains.
Recent news that imports of electronics like smartphones and laptops are getting a temporary reprieve until the administration figures out a new tariff approach specific to the semiconductor industry added to the confusion for exporters.
A Challenging Economic Environment
Sony acknowledged that raising prices is a "tough decision" amid the "backdrop of a challenging economic environment, including high inflation and fluctuating exchange rates."
The company emphasized that these price hikes will take effect starting Monday for some PS5 consoles in Europe, Australia, and New Zealand.