PlayStation 5 Price Surges in Japan, Sony Officially Announces

Sony has confirmed a significant price hike for the PlayStation 5 in Japan, increasing costs by approximately ¥13,000, equivalent to about $90. The new pricing will take effect on September 2, raising the standard PS5 from ¥66,980 to ¥79,980 (around $552) and the digital version from ¥59,980 to ¥72,980 (about $504). This change also extends to accessories, with DualSense controller prices rising from $65 to $80 and the PlayStation Portal increasing from $205 to $240. The company cites the current global economic fluctuations as contributing factors to this decision. Despite selling 61.7 million units since its 2020 launch, recent sales have declined, leading Sony to revise its annual sales target downward. Critics believe the lack of major exclusive titles may be impacting hardware sales, and there's speculation about the potential release of a PS5 Pro model in 2024.

The price increase is attributed to a challenging external economic environment and significant fluctuations in the global market, which have affected Sony's business. Additionally, declining sales and a lack of new exclusive titles are contributing factors.

The PlayStation 5, released in November 2020, quickly became a popular console, known for its advanced features and strong library of games. Since its launch, it has maintained an impressive sales record, although its price has steadily increased in some regions, which is unusual for a console shortly after release. The anticipated arrival of new titles and an upgraded model could reshape its market position in the near future.