One of the world’s largest manufacturers of consumer and professional electronic products, SONY, has raised the price of PlayStation 5 due to global economic challenges it is experiencing.
President & CEO of Sony Interactive Entertainment, Jim Ryan confirmed this in a blog post, “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”, he said.
He added that the hike in price affects markets in Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada.
SONY is recognized as the most cash-rich Japanese company and the largest technology and media conglomerate in Japan. With value of over $90 billion and a net cash reserve of ¥1.8 trillion.
Jim Ryan stressed that the price increase is necessary, looking at the current economic environment and its impact on SIE’s business as their major concern is to keep improving on the supply of PS5 for players to enjoy the benefits it offers.
New prices are as follows:
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
Australia -PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
PS5 Digital Edition – AUD $649.95
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
