Sony is raising the price of its video game console 'PlayStation 5' by about $50 (approximately 69,000 won) in the U.S., BBC reported on the 20th.
Sony announced through its blog that the price increase will take effect starting on the 21st. Accordingly, the price of the top model, PlayStation 5 Pro, will rise from $699 to $749.99. The standard and digital editions will also see a $50 increase, priced at $549.99 and $499.99, respectively.
This price increase comes after U.S. President Donald Trump imposed tariffs on trading partners, including China and Japan. Isabel Tomatis, Vice President of Global Marketing at Sony Interactive Entertainment, noted, "Like many global corporations, Sony is facing a challenging economic environment." Sony added that there will be no price increase in other markets outside the U.S., and the prices of game console accessories will remain unchanged.
Earlier, in April, Sony increased the price of the PlayStation 5 in some European markets, citing inflation and exchange rate fluctuations. Microsoft's Xbox also raised its prices in May in the U.S., Europe, the UK, and Australia.
Reuters reported, "While game consoles have been identified as a key driver of growth in the video game market this year, concerns about the growth rate of the gaming industry are rising as the highly anticipated open-world action-adventure game 'Grand Theft Auto (GTA) 6' has been delayed until next year and console prices are increasing."