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For those looking to buy PlayStation 5, there is some really bad news as far as new purchases are concerned. Earlier in the day, Sony informed that they are hiking the price of their next-generation consoles in some regions of the world, like the UK, and Japan. They have blamed the changing global economic scenario as the main reason for this change.
The PlayStation 5 has heated the next-generation war between Sony and Microsoft. As good as the console is, there has been a severe supply gap due to the semiconductor chip shortage. While Xbox has bypassed this with its dual-SKU strategy, things haven't gone so smoothly for Sony.
With the recent changes, Sony has informed the nations where they're bringing the difference and what the new prices will be. Inevitably, fans won't be happy irrespective of their reasons. The fallout of the current global crisis is epitomized by this change as Sony has included large markets in its price hike.
PlayStation 5's prices rise in select markets, global economic crisis cited
Earlier on August 25, Sony officially announced the decision on their official blog. Addressing the public, CEO Jim Ryan informed the public why they're being forced to make this decision.
"The global economic environment is a challenge that many of you around the world are no doubt experiencing. We're seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries."
He further went on to list the regions where the pricing has been increased:
"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. There will be no price increase in the United States."
Here's the complete list of the updated prices for the PlayStation 5 based on different regions:
Europe
- PS5 with Ultra HD Blu-ray disc drive – €549.99
- PS5 Digital Edition – €449.99
UK
- PS5 with Ultra HD Blu-ray disc drive – £479.99
- PS5 Digital Edition – £389.99
Japan (effective September 15, 2022)
- PS5 with Ultra HD Blu-ray disc drive – ¥60,478 yen (including tax)
- PS5 Digital Edition – ¥49,478 yen (including tax)
China
- PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan
- PS5 Digital Edition – ¥3,499 yuan
Australia
- PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
- PS5 Digital Edition – AUD $649.95
Mexico
- PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
- PS5 Digital Edition – MXN $12,499
Canada
- PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
- PS5 Digital Edition – CAD $519.99
As a footnote, Ryan has acknowledged that they also understand the need to increase supply. Despite the early promise, the slow roll-out has resulted in many fans facing issues in getting their hands on the PlayStation 5.
The recent decision is sure to enrage many, and it follows a recent incident of the company getting sued for £5 billion in the UK on charges of consumer exploitation.
