Why The PS5 Just Got More Expensive In Many Regions
If you're still hoping to get your hands on a PlayStation 5, we have some bad news for you. In a post on the PlayStation Blog, Sony announced that the price of the console will be increased in several markets across the globe. These price hikes are quite substantial and, unfortunately, in most cases have already been instated. Assuming you haven't been able to buy a PS5 until now, it's likely that you will have to pay more if and when you find one for sale. That brings us to another problem that Sony seems eager to tackle — the meager supply of PlayStation 5 consoles.
The PlayStation 5 console has been doing well, at least as far as Sony is concerned. For gamers, it's a different story. PS5 restocks are highly competitive, and even though the global chip shortage has eased up, it's still not a given that you'll be able to find a PS5 console in store at any given time. Sony has said on more than one occasion that it wants to address the problem and ensure that customers are able to buy the console whenever they want to. The company reiterated this once again by saying in its latest blog post, "Our top priority continues to be improving the PS5 supply situation so that as many players as possible can experience everything that PS5 offers and what's still to come."
According to Sony's write-up, most parts of the world are being hit by this change. The global economic environment is cited as the cause of the price hike. High inflation has affected the pricing of most products ranging from daily grocery items to electronics. Now, Sony appears to feel that it must raise the prices of PS5 in order to account for the current economic situation.
One key market remains unchanged
Sony explained in its blog post that the price increase will affect select markets across Europe, the Middle East, and Africa (this is also known as EMEA). Asia-Pacific (APAC), Latin America (LATAM), and Canada are all going to see a price hike as well. One key market remains without any changes, however: the United States will keep the same prices as before. Sony didn't divulge why that will be the case.
The company also revealed the new prices, and unfortunately, the increase is rather substantial. Europeans can expect to spend up to €50 more on a console than before; the PS5 with the Ultra HD Blu-ray disc drive will now cost €550 as opposed to the previous price of €499.99, while the Digital Edition went up from €399.99 to €449.99. Customers in the U.K. will now have to spend £479.99 on the Blu-ray version and £389.99 on the Digital Edition, while those in Australia will have to shell out $799.95 AUD and $649.95 AUD, respectively.
In China, the prices will go up to ¥4,299 Chinese yuan for the Blu-ray version and ¥3,499 Chinese yuan for the Digital Edition, while in Mexico the prices will be set at $14,999 MXN and $12,499 MXN. Canadians will now have to pay $649.99 and $519.99, respectively. All of these changes are already in place. Japan is seeing a staggered price change, but starting on September 15, 2022, local customers will have to pay ¥60,478 yen and ¥49,478 yen for the Blu-ray and Digital Edition PS5 consoles.