This isn't the first time Sony has raised prices on the PlayStation 5, which is now over four years old. The company raised prices in various countries in 2022, and last year increased the console's price in Japan.
This isn't the first time Sony has raised prices on the PlayStation 5, which is now over four years old. The company raised prices in various countries in 2022, and last year increased the console's price in Japan.
Sony has raised the price of its flagship PlayStation 5 console in Europe, Australia and New Zealand, citing "challenging economic conditions," CNBC reports .
The company announced on Sunday that the PS5 Digital Edition will now cost 499.99 euros ($569.9) in Europe, down from 449.99 euros. The suggested retail price in the UK is 429.99 pounds (down from 389.99 pounds).
Meanwhile, prices in Europe and the UK for the PS5 with HD Blu-ray drive have not increased. The PS5 Pro, the updated model of the console that launched last year , has also not seen a price increase.
PS5 prices have also been increased for sale in Australia and New Zealand.
Sony said it made the "difficult decision" to raise prices against the "background of a difficult economic situation, including high inflation and exchange rate fluctuations."
Serkan Toto, CEO of Tokyo-based consulting firm Kantan Games, said that Sony will likely raise PS5 prices in the US as well.
"I would be very surprised if Sony could keep PlayStation prices stable in the US. Now is the 'right' time for the company to raise prices, as the consumer reaction will be relatively limited," Toto said in an interview with CNBC on Monday.
