Sony has increased the price of the PlayStation 5, effective immediately, in most markets around the world.
The price of the console will increase by £30 in the UK and €50 in Europe, to £480/€550, or £390/€450 for the disc-less digital version of the console.
Elsewhere in the world, Japan, China, Australia, Mexico and Canada will also see price increases. But the US will not see a price increase at this time.
Sony decided not to announce the news during Gamescom Opening Night Live, instead opting instead to show off a new premium PS5 controller.
PlayStation boss Jim Ryan confirmed the price hike this morning and blamed “high global inflation rates, as well as adverse currency trends, which are impacting consumers and creating pressures on many industries” .
Ryan said the move had been a “difficult decision” and that Sony’s top priority remained “improving the PS5 supply situation so that as many gamers as possible can experience everything PS5 has to offer and what’s yet to come .
Reacting to the news this morning, industry analyst Piers Harding-Rolls wrote that as unpopular as the move is, the changes are unlikely to hit pent-up demand or Sony’s bottom line.
“We believe there will be disappointment for some consumers who have tried to buy a PS5 without success, or who were saving up to buy the console just in time for the price to go up,” Harding-Rolls wrote. “[But] The high pent-up demand for Sony’s device means that this 10 percent price increase in most markets will have minimal impact on console sales. We expect Sony’s sales forecast for the PS5 to remain unchanged.”
Today’s price hike is an unprecedented move by the industry’s biggest console makers, although Sony’s move follows a similar increase by Meta for its Quest 2 virtual reality headset. Last month, the Facebook’s parent company raised the price of Meta Quest 2 by $100, though it offered customers a little warning and promised to include a game, Beat Saber, later as a sweetener.
“There is no indication at this stage that Microsoft will increase the prices of the Xbox Series console. Microsoft will no doubt take advantage of Sony’s increase to push its ‘value’ message, especially around the Xbox Series S, Game Pass and its All Get in on the deal as we head into the holiday shopping season. As such, this move brings some benefits to Microsoft.”
Here’s how the price is changing around the world, as of now:
Europe (+€50)
- PS5 with Ultra HD Blu-ray disc drive: €549.99
- PS5 digital edition – €449.99
United Kingdom (+£30)
- PS5 with Ultra HD Blu-ray disc drive: £479.99
- PS5 Digital Edition: £389.99
Japan, from September 15 (+5000 yen)
- PS5 with Ultra HD Blu-ray Disc Drive: ¥60,478 (tax included)
- PS5 Digital Edition: ¥49,478 (tax included)
China (+400 RMB)
- PS5 with Ultra HD Blu-ray disc drive: 4,299 yuan
- PS5 Digital Edition: ¥3,499
Australia (+50 USD)
- PS5 with Ultra HD Blu-ray Disc Drive: $799.95
- PS5 Digital Edition: AUD$649.95
Mexico (+1000 pesos)
- PS5 with Ultra HD Blu-ray Disc Drive: $14,999 MXN
- PS5 Digital Edition: $12,499 MXN
Canada (+$20 CAD)
- PS5 with Ultra HD Blu-ray Disc Drive: CAD$649.99
- PS5 Digital Edition: CAD$519.99