Sony Group Corp is hiking the price of its PlayStation 5 games console in markets across the globe. According to a report by The Verge, the company has increased price of PS5 in UK, Europe, Japan, China, Australia, Mexico, and Canada. The price hike, Sony says, is result of high global inflation rates including rising interest rates.
Sony said it is raising the price of the disk drive equipped version of PS5 by 10 per cent in Europe from 499.99 euros previously to 549.99 euros ($550.81). The price hike is around 6 percent in the UK.
The Japanese entertainment conglomerate said there would be no price increase in the United States. It is unclear whether the price of PS5 has increased for the Indian market as well. Currently, the gaming console is listed with the old price tag on Indian e-commerce sites.
Nevertheless, the new price have come into effect in all markets (mentioned above) except Japan where it will go live on September 15, 2022.
Here are the new prices:
Europe:
PS5 with Ultra HD Blu-ray disc drive – €549.99 (€499.99 before)
PS5 Digital Edition – €449.99 (€399.99 before)
UK:
PS5 with Ultra HD Blu-ray disc drive – £479.99 (£449.99 before)
PS5 Digital Edition – £389.99 (£359.99 before)
Japan:
PS5 with Ultra HD Blu-ray disc drive – ¥60,478 yen (¥49,980 before)
PS5 Digital Edition – ¥49,478 yen (¥39,980 before)
China:
PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan (¥3,899 yuan before)
PS5 Digital Edition – ¥3,499 yuan (¥3,099 yuan before)
Australia:
PS5 with Ultra HD Blu-ray disc drive – AUD $799.95 (AUD $749.95 before)
PS5 Digital Edition – AUD $649.95 (AUD $599.95 before)
Mexico:
PS5 with Ultra HD Blu-ray disc drive – MXN $14,999 (MXN $13,999 before)
PS5 Digital Edition – MXN $12,499 (MXN $11,499 before)
Canada:
PS5 with Ultra HD Blu-ray disc drive – CAD $649.99 ($629.99 before)
PS5 Digital Edition – CAD $519.99 ($499.99 before)
The Verge report quotes Jim Ryan, President and CEO of Sony Interactive Entertainment, saying “We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries. Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price (RRP) of PlayStation 5 in select markets across Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada.”
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