1. Sony has raised the price of its flagship gaming console PlayStation 5 in Europe, Australia, and New Zealand, with the reasoning behind this move being a 'challenging economic environment.'
2. Sony said it made a 'difficult decision' to raise prices in the 'context of a challenging economic environment, including high inflation and volatile exchange rates.'
3. Global financial and currency markets have been highly volatile since U.S. President Donald Trump announced the so-called 'reciprocal tariffs' on more than 180 countries this month.
Sony has raised the price of its flagship gaming console PlayStation 5 in Europe, Australia, and New Zealand, citing a 'challenging economic environment' as the reason for this move.
In Europe, the PS5 Digital Edition will now cost 499.99 euros ($569.9), Sony said in a blog post on Sunday. This price is up from the previous price of 449.99 euros. The recommended retail price in the UK is 429.99 pounds, up from the previous price of 389.99 pounds.
There is no price increase for the PS5 with a Blu-ray HD drive in Europe and the UK, while the PS5 Pro, an upgraded version of this gaming console released last year, also did not see a price increase.
The price of PS5 has also increased when sold in Australia and New Zealand.
Sony said it made a 'difficult decision' to raise prices in the 'context of a challenging economic environment, including high inflation and volatile exchange rates.'
Global financial and currency markets have been volatile since U.S. President Donald Trump announced the so-called 'reciprocal tariffs' on more than 180 countries earlier this month. Since then, Trump has reduced some tariffs to allow time for negotiations and has exempted certain products, such as smartphones.
Serkan Toto, CEO of the Tokyo-based gaming consultancy Kantan Games, said that Sony is likely to raise the price of PS5 in the United States.
"I would be very surprised if Sony could keep the price of PlayStation stable in the United States. Now is the 'right' time for the company to raise prices as user backlash will be relatively limited,"
"So, I expect that Sony will eventually raise prices in the United States, when at least there is clearer information about the direction of tariffs."
This is not the first time Sony has raised prices for this gaming console, which is now more than four years old. Previously, the company raised prices in 2022 in various countries and regions, and then continued to raise prices for this gaming console in Japan last year.
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