Sony Interactive Entertainment has confirmed reports from last week, implementing a substantial price hike on its PlayStation 5 Digital Edition across multiple international markets. The company points to continued international economic uncertainty as the driving factor for this decision. According to the new price table, the price of the console will go up in Europe, the U.K., Australia, and New Zealand. Yet, the regular PS5 will continue to have its existing price points.
Effective immediately, we will increase the suggested retail price of the PlayStation 5 Digital Edition. In Europe, it will increase to €499, £430 in the UK, AUD 749 in Australia, NZD 859 in New Zealand. That’s the equivalent of a 25% boom in sales over these areas! The growth is being led by the console’s digital-only version which lacks a disc drive. The premium pricing for the standard PS5 model and the soon-to-be-released PS5 Pro version will stay the same in Europe.
Sony’s move also comes as the global economic outlook continues to worsen under a deluge of high inflation and volatile currency exchanges. A Sony spokesperson confirmed that raising the price had been a difficult decision. They said that it was needed because of today’s economic crisis affecting all markets.
The United States remains the single largest market for video game consoles. This suggests that we should be prepared to see increases in PS5 prices due to potential tariffs. Industry analysts believe that this is a precursor to a global pricing policy that is intended to protect the U.S. business. Christopher Dring, a noted industry expert, commented on this development, stating:
“Rather than simply increase prices there, it’s possible the likes of PlayStation could increase pricing globally in an effort to protect, as best they can, the US market.” – Christopher Dring
Nintendo increases prices just as they suspend pre-orders for the most awaited Switch 2 console in the U.S. It requires them to stay in close touch with market conditions and the impact of tariffs on their pricing strategy. The launch of Switch 2 is now postponed until further notice because of these unknowns.
Dring added that the long trend of plummeting prices for game consoles was starting to flip. One can hope that this sharp decline is now finally coming to an end.
“Ultimately, the era when game consoles went down in price over time is certainly over.” – Christopher Dring
Leave a Reply