PS5 is set for a major price increase as Sony blames the global economic woes

Sony will significantly increase the price of the PlayStation 5, it said.

The console’s price will increase by 10 percent in Europe, with similar price increases in Japan, China, Australia, Mexico and Canada, it said.

Sony blamed global economic difficulties for the rise.

“The global economic environment is a challenge that many of you around the world are undoubtedly experiencing,” said Jim Ryan, President and CEO of Sony Interactive Entertainment.

“We are seeing high global inflation rates as well as unfavorable currency trends impacting consumers and putting pressure on many industries.”

He said the decision to raise the price was “difficult”.

It’s just the latest difficulty for people still trying to snag the new PlayStation. Even almost two years after the publication, the offer remains limited.

“While this price increase is a necessity given the current global economic environment and its impact on SIE’s business, our top priority remains improving the PS5 supply situation so that as many players as possible can experience all that PS5 offers and that is to come”, said Mr Ryan in the same announcement.

All price changes are effective immediately, except for the increase in Japan.

The changes mean the PS5 with a disc drive now costs €549.99 or £479.99.

https://www.independent.ie/business/technology/tech-gaming/ps5-set-for-substantial-price-increase-as-sony-blame-global-economic-problems-41937442.html PS5 is set for a major price increase as Sony blames the global economic woes

Fry Electronics Team

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