Sony hikes PlayStation 5 prices in multiple regions, citing challenging market

Sony has announced a price increase for its PlayStation 5 consoles across several key markets, including the UK and Europe, attributing the decision to a “challenging” economic environment.

The price of the digital edition of the PS5 in the UK will rise by £40 to £429.99, while European customers will see an approximate €50 increase, bringing the cost to €499.99. Similar price hikes are also slated for Australia and New Zealand.

In a blog post explaining the move, Sony Interactive Entertainment (SIE) executive Isabelle Tomatis pointed to “high inflation and fluctuating exchange rates” as the primary drivers behind the price adjustments. However, while not explicitly stated by Sony, the impact of US President Donald Trump’s recently imposed tariffs on goods imported from China is widely considered a significant contributing factor.

Although the tariff exemption announced by the US administration included some electronics, video game consoles are not believed to be among the spared items. Christopher Dring, a gaming industry analyst, suggested that while Sony avoided directly mentioning tariffs, their “knock-on effect” is likely influencing pricing strategies globally.

He speculated that to mitigate the potential impact of tariffs in the US, the largest market for video game consoles, Sony may be implementing price increases in other regions.

The price increase comes at a sensitive time, coinciding with Nintendo’s cautious approach to the US pre-orders for its upcoming Switch 2 console, which were suspended to assess the potential impact of the same tariffs. Analysts suggest that the Switch 2’s £395 price tag for the console alone may have provided Sony with some leeway to increase the PS5’s price while maintaining a competitive edge.

Interestingly, while the digital edition of the PS5 sees a price increase, the standard edition with a disc drive will remain at its current price in the UK. In a move that may soften the blow for owners of the digital edition, Sony has also reduced the price of its standalone disc drives from £99.99 to £69.99 in the UK.