Sony hikes PlayStation 5 prices five years after launch

The Japanese company is hiking PS5 prices in Europe, Australia, and New Zealand while keeping the same price in the US.

Typically, after a new console is unveiled, its price decreases over time. This was also the case with the previous Sony console, PS4, which was launched at $400 in 2013 and cost $300 three years later.

But things are different with the PS5, which was released back in 2020. On Sunday, Sony announced that it is raising the price of its PS5 consoles in Europe, Australia, and New Zealand.

The company says it made the decision due to a “challenging economic environment, including high inflation and fluctuating exchange rates.”

The PS5 Digital Edition will now cost €499 in Europe or £429.99 in the UK, an increase from €449 and £389.99, respectively.

In both of these regions, the pricing of PS5 versions with Ultra HD Blu-ray discs and recently announced PS5 Pro remains the same.

Meanwhile, in Australia and New Zealand, the cost of the PS5 will increase both for the Digital and Ultra HD Blu-ray disc drive editions.

In Australia, the PS5 Digital Edition will cost AUD $749.95, while the Ultra HD Blu-ray will cost $829.95. In New Zealand, the Digital and HD Blu-ray editions will be priced at $859.95 and $949.95, respectively.

That isn't the first time Sony has increased PS5 pricing outside of the US. In 2022, the company hiked the console's prices by 10%, citing uncertain economic conditions.

The PS5's pricing in the US currently remains the same, though it may also increase.

Sony, like another Japanese console maker, Nintendo, manufactures its consoles in China, which was hit with over 145% tariffs imposed by US President Donald Trump.

According to a report by Bloomberg, Nintendo is likely to increase the pricing of its Switch 2 console.