Yikes. PS5 just got a price increase.

Do not underestimate the power of consumers, PlayStation...

Big yikes. This is quite possibly a massive blow to PlayStation’s malleable reputation, which to this point has been respectable, but this sucks. Not since the PlayStation 3 has Sony demanded a hefty tax on their luxury item – which I will re-iterate, the PlayStation 5 is – at a whopping $799AUD. In Australia, that’s $50AUD increase to its launch price from 2020, but post-pandemic problems continue to dreadfully, and painstakingly rear its ugly head unto our beloved gaming industry. It was only a matter of time giving the global chip supply shortage which has unfortunately blemished what would have been one of gaming’s biggest generation leaps of all time, but without fans attaining their preferred piece platform, its been a slow trudge for outlets, development teams and publishers to push their wares at optimal presentation.

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While Sony would want to avoid selling the hardware at a loss, it’s always the case at launch but it seems that their contingency plan has gone in reverse, and profit was off the table with the current price tag applied given shortages. Supply and demand is showing that money talks, and puts the wheels in motion a lot faster for those that have it, and PlayStation need to start turning a profit on their hardware or else they won’t be able to sustain the 2% dip that was reported last quarter earning. If anything, I’m surprised it was only 2%, as hardware availability is in disarray on all ends of the spectrum. The Nintendo Switch OLED is only about to be restocked after its launch sales with the Splatoon limited edition releasing at the time of writing this, XBOX Series X may show up here and there, and on a much more consistent basis, but if you don’t know someone that has the word on the street, then PS5 stock shows up like a flash mob and flies off shelves within seconds.

We’re approaching its two year anniversary, but at the rate the hardware is moving, it shadows the launch period of the PlayStation 4, only that we’re 22 months post-launch. While the price hike won’t affect the United States, the rest of its market that see’s the hardware; Europe, Middle East, Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), and Canada are going to see a detrimental deterrent investing in the blue brand from this. Unless XBOX are thinking of trying the same here, we may see this as another win for the green camp. Nintendo on the other hand, are still Whistlin’ Dixie while fantasizing that their fanbase is satisfied with their archaic practices. 

President of PlayStation & CEO of Sony Interactive Entertainment, Jim Ryan.

Here’s the official statement from PlayStation Blog from President & CEO of SIE, Jim Ryan;

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. 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 new RRPs below are effective immediately unless otherwise noted.*

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 Sept. 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

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.

Thank you for your continued support.

*Select markets in EMEA, APAC, and LATAM not listed above may also receive price increases. Please check with your local retailer.

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That last sentiment left by Ryan in that statement is poor. And I mean that sincerely by saying that their supply issues should have been their number one priority from the beginning not two years into the generation. If they wholeheartedly knew that there was going to be a supply and demand issue going into the generation, then there should have been a contingency plan laid out that didn’t spell more money. But alas, here we are; PlayStation are scrambling and it’s a shame. Coming out squeaky clean, and looking like royalty under the guise of Shawn Layden and Andy House, PlayStation were on-top. After Layden’s controversial departure from Sony, it left gamers scratching their heads with unorthodox decisions that have left consumers feeling stranded, especially those that have missed out on the PS5.

Two years on, and I’m sure that gamers have made the tough decision to seek out a new horizon in other platforms or revisiting retro gaming. I for one have personally felt this effect first hand with titles trickling out at a slow constant without anything that speaks to me personally. Definitely a year that I fell out of love with modern gaming in favour for retro-active avenues. I’m not saying that PlayStation have not got some bangers on their hands that are must haves like Horizon: Forbidden West, the upcoming God of War: Ragnarok, The Last of Part I, etc. But the luxury of owning a PS5 has become less a necessity to gamers, and more of a stroke of luck or by chance that they are to experience even grasping a Dualshock controller, and I’m not sure whether upping the cost of the platform is the answer.

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