Sony to hike PlayStation 5 prices in US amid tariff concerns
Sony announced that prices for its PlayStation 5 consoles in the United States will rise by about $50 starting Thursday, citing mounting costs and a cooling video game market as key factors behind the move.
Like many global businesses, the firm faces a "challenging economic environment", Isabelle Tomatis, Sony Interactive Entertainment's vice president of global marketing said in a blog post, News.Az reports, citing BBC.
All three PlayStation 5 consoles will see a similar price increase. The most expensive Pro version now has a recommended retail price of $749.99.
The price hikes come after US President Donald Trump imposed tariffs on most of America's trading partners, including Japan, which has led to fears of rising costs.
"We've made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the US starting on 21 August," Ms Tomatis said.
The base model of the PlayStation 5 will cost $499.99 in the US, she added.
The blog post went on to say that the recommended retail prices for PlayStation 5 accessories will remain unchanged and the firm has no other price changes to announce for other countries.
Japan's exporters currently face a 15% tariff on the goods they sell to the US.
Sony raised console prices in the UK and Europe earlier this year, citing high inflation and fluctuating exchange rates.
US gamers have seen similar price hikes from other companies like Nintendo, which recently increased the price of the original Nintendo Switch.
The £75 price tag on titles like Mario Kart World has sparked criticism from players over the rising cost of gaming.
Microsoft also raised the price of its Xbox consoles and accessories in various countries this year.
Major companies have warned in recent months about the impact of tariffs.
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