Sony increases PS5 prices in several markets, will Xbox be next?

Sony recently increased the pricing of its PlayStation 5 gaming console in several markets across the globe including the UK, Europe, Australia, and Canada. This raised concerns among gamers who questioned if Microsoft would follow the suit by raising the price of its Xbox Series X and the Xbox Series S consoles. Now, Microsoft has responded to these concerns by confirming that it will not be hiking the prices of its gaming consoles anytime soon.

In a statement to Windows Central, a Microsoft spokesperson said that it has no plans to hike the pricing of its Xbox Series S and Series X gaming consoles and that it will continue to offer the two gaming consoles at baseline RRPs (Recommended Retail Price) in various currencies including in EUR, USD and GBP.

“We are constantly evaluating our business to offer our fans great gaming options. Our Xbox Series S suggested retail price remains at $299 (£250, €300) the Xbox Series X is $499 (£450, €500),” a Microsoft spokesperson told the publication.

It is worth noting that while Microsoft has confirmed that it is not raising prices for its Xbox Series S and Xbox Series X gaming consoles, it doesn’t mean that it will not raise the prices for its gaming consoles in future as well. That said, it is definitely encouraging to see that the company is not planning to make the move in the coming days.

Why is Sony hiking prices of its PS5 gaming console

As far as Sony PlayStation 5 is concerned, Sony Interactive Entertainment’s President and CEO Jim Ryan said that the company was increasing the price of its PS5 gaming console owing to “high inflation rates” and “adverse currency trends”.

“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 in a statement. You can check the new prices here.

That said, Sony has not hiked the prices of its gaming console in India yet. However, it is possible that the company will announce a price hike in India soon.

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