Sony Increasing PS5 Prices
From the PlayStation blog:
With continued pressures in the global economic landscape, we’ve made the decision to increase the prices of PS5, PS5 Pro, and PlayStation Portal remote player globally. We know that price changes impact our community, and after careful evaluation, we found this was a necessary step to ensure we can continue delivering innovative, high-quality gaming experiences to players worldwide.
The PlayStation 5 Digital launched in the UK at £359.99 in November 2020. The same console is currently £389.99 on Amazon. The new RRP is £519.99, a £160 increase over its launch price from almost six years ago.
It’s easy to think that this price increase is simply a result of RAM shortages, but Sony’s CFO, Lin Tao, said they’d secured sufficient supply, via Outlook Respawn:
Speaking during a Q3 fiscal earnings call this week, Sony Chief Financial Officer Lin Tao addressed the industry-wide panic regarding the global RAM shortage. Tao assured investors and fans alike that the company has secured the minimum memory inventory needed to meet demand for the next fiscal year, effectively shielding the PS5 from the skyrocketing component costs currently plaguing the tech world.
That was just six weeks ago. More likely this increase is due to the US-Israel conflict with Iran, and the pressure it is placing on the semiconductor supply chain. Sony attributing the increases to the global economic landscape gives them just enough cover to say nothing at all.
These price increases are effective from 2nd April. If you’re in the market for a PlayStation 5, now’s the time to get it.