Sony announces a major price increase for the PS5 in several countries

Sony has announced that it is increasing the retail price of the PS5 in various countries due to the global economic environment.

Sony President and CEO Jim Ryan announced the price increase on the official PlayStation blog just now. Various markets will be affected, including Europe, the UK, Japan, Canada, China, Mexico and Australia. According to Ryan, there will be no PS5 price increase in the United States.

“The global economic environment is a challenge that many of you around the world are no doubt familiar with,” Ryan writing on the PS blog. “We are seeing high global inflation rates, as well as unfavorable currency trends, which are impacting consumers and creating pressure on many industries. Based on these difficult economic conditions, SIE has made the difficult decision to increase the recommended retail price (RRP) of the PlayStation 5 in certain markets in Europe, the 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.

Looking at the European retail price, we’re looking at a 10% price increase, which can be considered quite substantial (the PS5 disc model previously sold for $499.99). In his message, the CEO of PlayStation refrains from explaining why the price in the United States has not been increased.

According to Ryan’s message, the price increase will take effect immediately, unless otherwise specified. Below are the new retail prices in the affected countries:

  • Europe
    • PS5 with Ultra HD Blu-ray Disc Player – €549.99
    • PS5 Digital Edition – €449.99
  • UK
    • PS5 with Ultra HD Blu-ray Disc Player – £479.99
    • PS5 Digital Edition – £389.99
  • Japan (effective September 15, 2022)
    • PS5 with Ultra HD Blu-ray Disc Player – 60,478 yen (tax included)
    • PS5 Digital Edition – ¥49,478 (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 Player – AU$799.95
    • PS5 Digital Edition – AU$649.95
  • Mexico
    • PS5 with Ultra HD Blu-ray Disc Player – MXN 14,999
    • PS5 Digital Edition – MXN $12,499
  • Canada
    • PS5 with Ultra HD Blu-ray Disc Player – CAD $649.99
    • PS5 Digital Edition – CAD $519.99

Ryan adds: “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 to improve the supply situation of the PS5 so that as many gamers as possible can experience all that the PS5 has to offer and what is yet to come.”

A major increase in the price of Sony’s console, and while that decision probably didn’t come easily, we’re pretty sure fans won’t like it.