Sony has recently implemented a price hike on its PlayStation 5 consoles globally. The standard PS5 model in the United States now costs $649.99, reflecting a $100 increase starting from April 2nd. Additionally, the PS5 Digital Edition is priced at $599.99, while the advanced PS5 Pro is available for $899.99. Moreover, the PlayStation Portal remote player’s price has been raised to $249.99 from $199.99. Similar price adjustments have been made in European, UK, and Japanese markets.
The decision to raise prices was based on a thorough examination of escalating costs within the worldwide supply chains. This adjustment marks the second increase within a year, following a previous raise of approximately $50 in the US last August. The surge in memory chip prices is attributed to manufacturers prioritizing data center supply for artificial intelligence, thus limiting the availability of chips for consumer electronics such as gaming consoles.
The PS5 has been in circulation for around six years, and the recent price elevation coincides with a slowdown in the video game industry. Epic Games, the creator of Fortnite, cited sluggish console sales as a contributing factor to the company’s decision to reduce its workforce by 1,000 employees earlier this week. Similarly, Microsoft had raised Xbox prices in the previous year.
