Sony PS5 price hike in several markets, India may be next
If you have been waiting to buy Sony PlayStation 5, there is bad news. Sony has announced it is increasing the PS5 price in several markets, including the UK, Europe, Australia, and Canada. The new price is as high as 10 percent in Europe, where the PS5 will become even more elusive. Sony has not said anything about the India price of the PlayStation 5 but mentions that the retail price will increase in the Asia-Pacific (APAC) region, among others.
The price hike is an outcome of the current global economic environment, including “high global inflation rates” and “adverse currency trends”. Jim Ryan, President and CEO of Sony Interactive Entertainment, said both these factors among several others are 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, Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada,” he said.
However, PS5 buyers in the US will be lucky as the price hike is not applicable to them. “There will be no price increase in the United States.” While Ray has not mentioned India, it is likely the prices here will go up eventually.
While Sony has hiked the price of PS5 in its priority markets, availability remains a big issue. Ever since its launch, PS5 has been available in limited stocks that go off shelves in an instant. But Ray is hopeful that the situation will improve soon. “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,” he said.
Here are the new PS5 prices in different markets:
Europe
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
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)
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 drive – AUD 799.95
PS5 Digital Edition – AUD 649.95
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
PS5 Digital Edition – CAD 519.99
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