Another PS5 price hike is happening in Japan, the third time since the current-gen console launched.
Sony recently announced that starting September 2, the console will be priced at ¥79,980, up by ¥13,000 (about $90) or 19% from the previous price. And, that’s not good news especially as the PS5 Pro release is just around the corner.
“In light of the recent fluctuations in the global economic situation and its impact on our business, we have made this decision after careful consideration,” the company mentions.
Yen, the Japanese currency, has been at its weakest point in recent years. When PS5 first dropped in November 2020, ¥100 was equivalent to $1 (USD). It is now barely 69 cents.
It’s not the first time Sony increased the price of its current-gen console, and Xbox will likely follow suit, too.
Just last year’s summer (July 2024), Microsoft raised the price of the Xbox Series X to align with PS5’s second price hike, increasing to £479.99 in the UK, €549.99 in Europe, and similar adjustments in other regions. That was a year after Sony increased PS5’s prices in 2022, a move that was delayed to help Microsoft focus on winning over gamers first.
“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,” Sony said back in 2022 when raising the PS5 prices.
The Xbox Game Pass subscription costs also rose at that time, with the base price increasing from $9.99 to $10.99 per month, and the Xbox Game Pass Ultimate from $14.99 to $16.99, before Microsoft raised it (once again) this year to $19.99/month.
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