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PlayStation 5 Got Huge Price Bump In Many Region
Sony announced raising the price of the PlayStation 5 for some reasons. The company has said it will be done in only some selected regions, but it almost covers all significant areas.
After the PS5 launch, it is the second time Sony is raising the price while the last one was settled back, but this is a bigger bump than that.
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.
The price hike appears to be a flat amount of currency in each affected region for both PS5 models. Thus, on a percentage basis, the more affordable PS5 models without disc drives are hit harder by today’s news.
Canada gets off the easiest with today’s increase on a percentage basis, while Europe, Japan, and China are each tied for PS5’s harshest price increases.
And it will be implemented in the major region, which is Europe, the UK, the Middle East, Africa, Asia, Latin America, and Canada.
Besides, the United States is the major region for Sony, but it is the only one not included in the list of getting this price bump.
There’s some bad news if you haven’t been able to get your hands on the PlayStation 5 in the 21 months since it was released. Sony has announced a price increase for the PS5 in many countries. It pinned the blame on global economic pressures, including high inflation rates and “adverse currency trends.”
“We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries.”
Europe
PS5 disc edition will cost €549.99, and its earlier price was €499.
PS5 Digital Edition will now cost you €449.99, and earlier was costing €399.
UK
PS5 disc edition is now priced at £479.99, and its pricing was £449.
PS5 Digital Edition’s new price is £389.99; earlier, it was £359.
Japan
PS5 disc edition – ¥60,478 yen (including tax)
PS5 Digital Edition – ¥49,478 yen (including tax), but it will be effective after September 15 in this region.
China
PS5 disc edition – ¥4,299 yuan
PS5 Digital Edition – ¥3,499 yuan
Australia
PS5 disc edition– AUD $799.95
PS5 Digital Edition – AUD $649.95
Mexico
PS5 disc edition – MXN $14,999
PS5 Digital Edition – MXN $12,499
Canada
PS5 disc edition – CAD $649.99
PS5 Digital Edition – CAD $519.99
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 improving the PS5 supply situation so that as many players as possible can experience everything that PS5 offers and what’s still to come.
The global economy has been an absolute shambles over the last few months. Many companies are feeling the sting of that and the ongoing component supply chain crisis that’s had a stranglehold on manufacturing over the last couple of years.
It seems unlikely that the price increase will result in reduced sales for Sony. The PlayStation 5 is still in high demand due to limited supply and the new retail prices are still lower than what you’d have to pay scalpers, for the most part.
Currently, there is no information regarding resetting these prices as the company did earlier. Also, Sony has already announced a new PS5 DualSense Edge wireless controller and VR2 headset.
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