Entertainment News: Sony raises PlayStation 5 prices worldwide due to inflation

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Image: Sony

While Sony increases the price of its game consoles, Xbox and Nintendo assure gamers that their prices will remain the same.

In an unprecedented move, Sony is raising the price of its PlayStation 5 consoles worldwide two years into the console’s lifecycle. Sony Interactive Entertainment CEO Jim Ryan made the announcement via the PlayStation Blog, attributing the price hike to “high global inflation rates” and “unfavorable currency trends”.

This price increase affects most regions of the world, including Europe, Asia-Pacific (APAC), Africa, the Middle East, Latin America and Canada. Notably, there will be no price increase in the United States. Price increases also vary by region, with Europe taking a heavy hit with a €50 price increase while Canada gets a relatively meager CA$20 price increase.

Here is a list of the new PlayStation 5 prices in APAC:

Singapore:

  • PS5 with Ultra HD Blu-ray Disc Player – SGD 799
  • PS5 Digital Edition – SGD 669

Malaysia:

  • PS5 with Ultra HD Blu-ray Disc Player – MYR 2,499
  • PS5 Digital Edition – MYR 2,069

Indonesia:

  • PS5 with Ultra HD Blu-ray Disc Player – IDR 9,699,000
  • PS5 Digital Edition – IDR 8,199,000

Thailand:

  • PS5 with Ultra HD Blu-ray Disc Player – THB 18,690
  • PS5 Digital Edition – THB 15,690

Philippines:

  • PS5 with Ultra HD Blu-ray Disc Player – PHP 30,790

Vietnam:

  • PS5 with Ultra HD Blu-ray Disc Player – 15,990,000 VND

All new prices are effective immediately. In the blog post, Ryan states: “While this price increase is a necessity given the current global economic environment and its impact on SIE’s business, our top priority continues to be to improve the situation. PS5 supply so that as many gamers as possible can experience everything the PS5 has to offer and what’s yet to come.

You’d think that the reasons Ryan outlined for this price hike – inflation and a weakening currency – would affect other console makers as well, but apparently not. Or at least not enough for them to consider raising their prices. In a new statement, Microsoft has confirmed that the prices of its Xbox Series X|S consoles will remain unchanged. Nintendo also confirmed earlier this month that the Nintendo Switch won’t be getting a price hike.

A price hike like this doesn’t happen often in the gaming console world, and it’s just the latest of Sony’s PS5 production issues. The company has struggled to supply enough PS5 consoles to meet inventory demands around the world, and a shortage of components has led to a drip feed of new consoles entering countries irregularly. Very few countries can provide walk-in customers with a PS5 console as is. In Malaysia, you have to be put on a waiting list months in advance to get your hands on it.

Sony also announced last week that the PS5’s DualSense controller would be getting a new, more customizable variant called DualSense Edge.

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