Technology

Sony raises prices of its PS5 consoles due to inflation

PS5 prices in Canada increase to CA$649.99 for a console with disc drive. (Photo: 123RF)

TOKYO — Japan’s Sony Group on Thursday announced price hikes for its PlayStation 5 consoles in most of its markets except the US, citing high inflation and adverse currency effects.

According to a statement on the official PlayStation Blog, PS5 prices in Canada have risen to CA$649.99 for a disc-based console and CA$519.99 for its digital version.

In Europe, the price will increase by 10% to €549.99 for the console with disc player and by 12.5% ​​to €449.99 for its digital version.

Its prices are also rising “with immediate effect” in the UK, China, Australia and Mexico, while in Japan they will only be increased from September 15th.

Asia-Pacific, Latin America, the Middle East and Africa are also concerned.

“We are seeing high levels of inflation as well as negative currency effects affecting consumers and putting pressure on many industries,” said Jim Ryan, head of gaming organization Sony Interactive Entertainment.

“Due to these dire economic conditions, we have made the difficult decision to raise the PS5 MSRP in various countries,” Mr. Ryan added, assuring that it was “necessary.”

The reason why Sony spared the US is not specified, although inflation in the world’s largest economy is very high.

The American giant Microsoft has not yet announced a price increase for its XBox consoles.

As for Nintendo, another Japanese video game giant, its president Shuntaro Furukawa told the Nikkei newspaper ten days ago that his group is “for the moment” not considering raising prices for its Switch console despite increased production and distribution costs. . “We want to avoid exclusion” of consumers, he said.

Mr. Ryan also reminded on Thursday that Sony’s priority remains improving the production of its PS5 consoles, which has been plagued by persistent supply chain disruptions that often make these products hard to reach for consumers.

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