The announced price increase for the PS5 comes in the wake of high inflation rates across the world. The PlayStation Blog post also noted adverse currency trends creating pressure on the industry. The blog also states that there will not be a price increase for the PS5 in the United States. Price increases go into effect today (25th August 2022) except for Japan, which will see the change on September 15th 2022.
The updated recommended retail prices are as follows:
- PS5 with Ultra HD Blu-ray disc drive – €549.99
- PS5 Digital Edition – €449.99
- 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)
- PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan
- PS5 Digital Edition – ¥3,499 yuan
- PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
- PS5 Digital Edition – AUD $649.95
- PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
- PS5 Digital Edition – MXN $12,499
- PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
- PS5 Digital Edition – CAD $519.99
Hardware prices typically trend downwards. However, recently there have been price increases, such as the $100 increase for the Oculus Quest 2. It’s too early to say how this will effect sales. Whilst there is some frustration from consumers, data and analytics firm Ampere have argued “the high pent up demand for Sony’s device means that this price increase of around 10% across most markets will have minimal impact on sales of the console. We expect Sony’s sales forecast for the PS5 to remain unchanged”.
Sony has stated its sales goal for the PS5 this year is 18 million units, however they have only sold 2.4 million in Q1. With a cost of living crisis and supply issues already effecting sales, it remains to be seen whether the company can hit this ambitious target.
SOURCE: The Official Playstation Blog