Sony officially announced in a new statement that they have decided to increase the price of PS5 in Europe, Latin America, the Middle East, Asia-Pacific, and Canada due to the global economic environment and high inflation rates. The US prices will remain untouched.
According to the statement, the increase in price is a result of the critical financial situation in the aforementioned regions and the high inflation rates which are apparently pressurizing Sony and its subsidiaries. The price increase covers almost all regions in the world except for the US.
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The new prices are effective immediately in order to avoid any chances of scalping consoles, but the only exception is Japan, where the new prices will be applied from September 15, 2022.
The price increase in Europe is around 10% as the Disc Drive version of PS5 has now been priced at €549.99, which is €50 more than the original price. For UK residents, however, the price increase is around 6%, as the Disc Drive version will now be sold at the retail price of £479.99.
Below, you can check out the new prices for PlayStation 5:
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Europe
- PS5 with Ultra HD Blu-ray disc drive – €549.99 (Originally, €499.99)
- PS5 Digital Edition – €449.99 (Originally, €399.99)
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UK
- PS5 with Ultra HD Blu-ray disc drive – £479.99 (Originally, £449.99)
- PS5 Digital Edition – £389.99 (Originally, £359.99)
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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
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Australia
- PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
- PS5 Digital Edition – AUD $649.95
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Mexico
- PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
- PS5 Digital Edition – MXN $12,499
-
Canada
- PS5 with Ultra HD Blu-ray disc drive – CAD $649.99 (Originally, $629.99)
- PS5 Digital Edition – CAD $519.99 (Originally, $499.99)
It is yet to be seen whether Sony will eventually increase prices in the US or not, but the inflation rate in the US doesn't seem to be as critical as that of Europe and the UK for now. Also, the competition with the Xbox Series X|S consoles in the US might be another reason for Sony to avoid an increase in price.
Sony has been struggling with the hardware shortage issue for an entire year now, which forces the company to limit its PS5 production despite a huge request in the market for the new gaming console.
It remains unknown whether we would see an increase in the price of other gaming consoles such as the Nintendo Switch and Xbox Series X|S in the European countries anytime soon, but Microsoft might keep the price at the same amount to increase its presence in the European market.
Currently, an Xbox Series S can be purchased for the retail price of €269.99 in Europe, while the cheapest version of PS5 costs €449.99.