Sony announced this Thursday a price increase for its latest console, the PlayStation 5 (PS5), attributing liabilities to escalating inflation and exchange rate fluctuations.
According to the company’s press release, the PS5 with Ultra HD Blu-ray Disc it will be 50 euros more expensive, going from 499.99 to a recommended price of 549.99 euros. The price of the digital edition of PS5 will rise to 449.99 euros, compared to the previous 399.99.
“The global economic environment is challenging for many of you in various parts of the world,” begins the statement shared by Sony on the PlayStation blog. “We are seeing high rates of global inflation, as well as adverse currency trends, that are impacting consumers and creating pressure across many industries,” said Jim Ryan, president and CEO of Sony Interactive Entertainment.
Recognizing this context, Sony indicates that “it made the difficult decision to increase the recommended prices for PlayStation 5” in several markets. In addition to the EMEA region, which includes Europe, the Middle East, and Africa, the increase will also be felt in the Asia-Pacific, Latin America, and Canada regions.
The US market is excluded from this price increase, probably in an attempt by Sony to face the fiercest competition from Xbox, the console developed by Microsoft.
The Japanese manufacturer adds that the price increase is “a need” taking into account the global economic context and “the respective impact on the business of Sony Interactive Entertainment”. On the same note, the company explains that the “priority remains to improve the PS5 distribution chain to ensure that the largest number of players can take advantage of” the console.
According to information shared by Sony, the company aims to sell 18 million units of this console this fiscal year. In the fiscal year ending in March, the company sold 11.5 million units.
Inflation and the economic context have led some companies to announce increases in the prices of services. The most recent case is the subscription to the Amazon Prime service, which in Portugal will be 25% more expensive, after the company increased the monthly service fee to 4.99 euros. This price increase takes effect from September 15.
Amazon Prime subscription will be more expensive in Portugal
Source: Observadora
