Sony is Raising PS5 Prices Again
Well, it looks like bad news for gamers. According to a recent report by the BBC, Sony just announced a major price hike for the PlayStation 5. If you were holding out for a discount, you might be out of luck. The cost of a new PS5 is going up by £90 in the UK and $100 in the US.
Sony claims this change is due to global economic pressures. The new prices will officially kick in on April 2.
What Are the New Prices?
The price bump hits every current PlayStation device. Here is a breakdown of the new UK prices:
- Standard PS5: £569.99 (up 19 percent)
- PS5 Digital Edition: £519.99 (up 21 percent)
- PS5 Pro: £789.99 (up 13 percent)
- PlayStation Portal: £219.99 (a £20 increase)
Why Is This Happening?
Sony stated that the increase is necessary to keep delivering high quality gaming experiences. However, industry experts point to a different culprit entirely.
The massive boom in Artificial Intelligence is a huge factor. According to gaming analyst Piers Harding-Rolls, there is a serious supply chain shock right now. The tech world is desperate for random access memory and storage components. These parts are essential for building data centres and AI infrastructure.
Since big tech companies are buying up these components in massive quantities, the costs for console manufacturers have skyrocketed. Sony is likely raising prices to protect its hardware profit margins as component costs refuse to drop.
What About Xbox and Nintendo?
Right now, PlayStation is sitting in a much higher price bracket than its competitors. Microsoft and Nintendo have not announced any immediate plans to raise the prices of their consoles.
That being said, analysts warn that gamers should stay cautious. The supply chain pressures affecting Sony are hitting the whole tech industry. It would not be a huge surprise to see rival companies follow suit in the near future. If you are thinking about buying a new console, you might want to grab one soon!
