Sony raises PlayStation 5 prices in many regions, effective immediately

In the early hours of Thursday morning, Sony announced huge news for the PlayStation 5 console family. All around the world, console prices are skyrocketing.

The price increase on both PlayStation 5 models (one with a drive and one without) takes effect immediately in at least six regions, with Japan joining the price hike battle on September 15. Sony ad It lists specific price increases for some of the biggest gaming regions, but also warns that “select markets” may see price hikes in the coming days. These include regions in the Asia Pacific region, Central and South America, and a huge group of countries comprising Europe, the Middle East and Africa (EMEA).

In a way, there’s one particular area outside of Sony’s price hike right now: the United States.

* The price hike in Japan will not take effect until September 15, 2022.

The price hike appears to represent a fixed amount of currency in each affected region for both PS5 models. Thus, on a percentage basis, the affordable PS5 models without disc drives are heavily influenced by today’s news. Canada is getting the easiest with the current increase on a percentage basis, while Europe, Japan and China are tied for the steepest PS5 price increases.

Sony attributes price increases across the board to two major economic factors: rising inflation and historical lows for the Japanese yen. US purchasing power does not appear to be immune to either of these issues, so it is unclear whether Sony’s assertion that “there will be no price increase in the US” is a firm assertion.

Bad news for the upcoming PSVR2 game?

The price hike comes on the heels of similar news from Meta’s VR division, which has chosen to Quest 2 VR price hiked late last month. Meta tried to mitigate the impact of the massive $100 price hike by including a free download of the popular rhythm action game Saber wonwhich usually retails for $30.

As of press time, Sony hasn’t suggested that it will include any free downloadable gifts as part of its price increase plan, although currently their price hike does not appear to exceed 13 percent in any region, unlike the Meta price increase of up to 25 or 33 percent, depending on the model.

strange that Sony Tuesday’s launch window announced the next virtual reality platform, PlayStation VR2, did not indicate the retail price. Perhaps Sony is keeping this news under wraps so it can buy more time to price this PS5 add-on amid the current market realities. (This might prompt a rethink of Our last guesses on PSVR2 pricing.)

Kyle Orland of Ars Technica recently researched the price history of gaming consoles, although his analysis is mostly about the Nintendo Switch, a 2017 console that had more years to grow long in the tooth in terms of its price-performance ratio. If the blockbuster console has followed historical console pricing trends, Orland’s analysis suggests its price may now have fallen to a figure between $150 and $180 in the US. However, a combination of economic factors, including a shortage of chips and unusually high demand for an outdated gaming system, have helped the Switch stick firmly to its original MSRP worldwide.

Orland’s report came in part because of Nintendo’s reassurance to investors and financial controllers in its native Japan that the Switch’s price won’t rise in the near future. Neither Sony nor Microsoft’s Xbox division made similar promises ahead of Thursday’s PS5 news. Microsoft has some advantages over Sony in the same bloated market: a more diversified financial portfolio, more than double Sony’s cash reserves, and less reliance on the Japanese yen. Time will tell if Microsoft continues to absorb the costs associated with inflation to keep its Xbox console prices steady.