Sony has announced today that the retail price of its PlayStation 5 consoles will be raised across most global markets outside the USA, referencing the current global economic environment and rising inflation rates.
In a statement released via the PlayStation Blog, President & CEO of Sony Interactive Entertainment Jim Ryan broke the news, stating, "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."
The new RRPs for each market are as follows:
- Australia
PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
PS5 Digital Edition – AUD $649.95
- Canada
PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
PS5 Digital Edition – CAD $519.99
- China
PS5 with Ultra HD Blu-ray disc drive – ¥4,299 Yuan
PS5 Digital Edition – ¥3,499 Yuan
- Europe
PS5 with Ultra HD Blu-ray disc drive – €549.99
PS5 Digital Edition – €449.99
- 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)
- Mexico
PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
PS5 Digital Edition – MXN $12,499
- UK
PS5 with Ultra HD Blu-ray disc drive – £479.99
PS5 Digital Edition – £389.99
Ryan went on to explain that while the price increase is currently a necessity, Sony's continues to try and improve the supply situation regarding the PS5. Ryan also noted that select markets which are not listed above may also receive price increases, and specified PS5 consoles in the U.S. market are not subject to any changes.
Sony Upsets Gamers
Responses to the announcement on the blog itself are almost universally negative. Many users cite Sony’s record $24.87 billion in profit for 2021 compared to a reported $16.28 billion for Microsoft and $15.3 billion for Nintendo, neither of which have yet announced any price increases. However, Sony’s defenders argue the unprecedented global financial situation should be taken into account.
The price increases comes shortly after it was announced that Sony intends to increase production of PS5 units to attempt to meet the shortfall that has existed since launch. This follows recent news from Microsoft that its Xbox Series consoles outsold the PS5 for three consecutive quarters.
Source: PlayStation Blog