Sony Has Just Raised the Price of the PlayStation 5

PlayStation 5 (1)

The Sony PlayStation 5 just got more expensive and we’re not talking about the prices that scalpers are charging.

Sony has just announced that the RRP (Recommended Retail Price) of both the PlayStation 5 Disc Edition and the PS5 Digital Edition will be going up in several territories/countries. The areas that will be receiving a price rise are: UK, Europe, Japan, China, Australia, Mexico and Canada (but not the United States).

So how much more will it cost you to buy a PlayStation 5? Assuming, that is, you can find one since supplies are still scarce. You can find the exact price rises at the bottom of this article, taken from Sony’s PlayStation Blog Post, but you’re looking at a price rise of around £30 or the equivalent in your local currency. So, in the UK, the PlayStation 5 with disc drive will cost you £479.99, up from £449.99.

This may seem like a surprising move on Sony’s part, given that the company is up against the Xbox Series X and significantly cheaper Xbox Series S, but there’s method to this madness. According to Sony:

“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.”

In other words, it’s getting more expensive to make and ship the PlayStation 5 so the price is going up. But… hang on, can’t Sony just eat that extra cost, in the name of boosting the console’s customer base? Probably not, no.

Sony and Xbox have traditionally remained tight-lipped about the matter but, for a long time, it’s been a commonly held belief that both companies sell consoles at a loss or near-loss. And, we can’t say if that’s definitely the case for Sony, Microsoft confirmed, during the Apple vs Epic trial, that they don’t make any profit on Xbox consoles.

You can read the full article at Protocol, but head of business development at Xbox Lori Wright stated that Microsoft Xbox business model involved taking a loss on consoles and making it up with game and subscription service sales.

So if Sony employs a similar business model, it may be that they’re already taking as much of a loss as they’re prepared to, and this price rise is to prevent them taking an even bigger hit on each console.

However, that doesn’t negate the fact that, with this new RRP, the PlayStation 5 disc edition is now £30 more expensive than the Xbox Series X. And, while the S is less powerful than the X, the PlayStation 5 Digital Edition is now £140 more expensive than the Xbox Series S.

Both the Xbox Series X and the PlayStation 5 have their own pros and cons so if a potential purchaser is umming and ahing between the two consoles, that £30 could, potentially, be enough to swing the deal towards the Xbox. On top of that, the Xbox Series X and S are currently easier to get hold of though the PlayStation Blog also states that Sony’s number one priority is to address the PlayStation 5’s supply issues.

Even though Sony states the new RRP is effective right now, it will likely take a day or two for retailers to update their prices. So, if you’re swift, and you can find a place with stock, you may be able to get one for the old price.

Finally, here’s the full list of price increases by country/territory.

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