PS5 Price Hikes

Sony has announced that due to inflation, it’s going to be raising the prices of its PS5 consoles in certain regions of the world. This has a lot of consumers upset, as we normally get price cuts on consoles that are a couple of years old, not price increases.

The price of the PS5 is going up £30 in the UK, €50 in the EU, and $20 CAD in Canada. The US is not getting a price increase due to the strength of the dollar according to Sony. Nintendo has stated that despite rising costs, the cost of the Switch will not increase, and PC gaming will soon get cheaper due to Nvidia overproducing their graphics cards. This may hurt Sony, as they are the only company so far increasing the price of gaming consoles. Most likely, it won’t hurt sales in the short term since demand is still high and supply low.

Where there are price hikes, the change in price is immediate, except for Japan where it will begin on September 15 of this year. Besides the countries/regions listed above, price hikes will also occur in China, Australia, and Mexico. It will be interesting to see if this hurts the public’s view of Sony in the future.