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The PS5 Just Got Its First Price Hike Since Launch

Get ready to shell out some extra cash, gamers. Sony has officially confirmed a PS5 price increase will hit “select markets,” including Australia, the first hike for the next-gen console since its launch more than two years ago. The console manufacturer has cited the “global economic environment“, including high inflation rates as the reason behind the increase in the price of PlayStation 5s.

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Image: Sony

In a newly released blog, president and CEO of Sony Interactive Entertainment, Jim Ryan gave the following reason behind the price hike. He said, “The global economic environment is a challenge that many of you around the world are no doubt experiencing. We’re seeing high global inflation rates, as well as adverse currency trends, 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.”

From the statement, it’s evident that Sony and PlayStation are holding “high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries” accountable for this recent increase in prices. Europe, the UK, Japan, China, Mexico, Australia, and Canada are the markets that will be impacted by this price increase. The price hike is effective immediately (except in Japan), so there’s no way one can get the console at a cheaper rate now. In Australia, prices for both the disc and digital versions of the PlayStation 5 have been increased by around $50. With this new announcement, here’s a look at all the revised PS5 prices in all the affected markets below:

  • Australia
    • PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
    • PS5 Digital Edition – AUD $649.99
  • 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
  • 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

As per Sony, there won’t be any price revisions in the United States, and the company’s “top priority continues to be improving the PS5 supply situation.” The gaming giant has been gearing up for the holiday season in full swing and seems confident that it will be able to meet the consumers’ demand. That said, this new price increase will surely be a bit disappointing for those who still are in the market looking for a new console.

CONTRIBUTOR

Shubhendu Vatsa

Shubhendu Vatsa is an experienced reporter specialising in video game, eSports and technology coverage. A BTech IT graduate, Shubhendu has previously written for entertainment-based publications such as GiveMeSport, Touch, Tap, Play, Attack of the Fanboy, EssentiallySports, Twinfinite and The Load Out.