As memory chip prices surge, a forecast that console prices—including Microsoft (MS) Xbox Series X and S released in 2020—will rise is spurring a buying rush. In particular, the Sony PlayStation (PS)5 is seeing explosive sales even after a previous price hike driven by a U.S. tariff.
According to the industry on the 16th, soaring PC component prices have pushed the price of a single console to a level similar to that of PC memory parts. Consumers unable to bear higher PC prices are flocking to consoles such as the PS5 and Nintendo Switch. In fact, during Black Friday held in the United States, the United Kingdom and elsewhere, the PS5 and Nintendo's Switch 2 recorded the highest sales.
Behind the explosive sales of game consoles is the outlook that, following price hikes for PC memory, console prices will also inevitably rise next year. The Xbox Series X and S are reportedly set to raise prices again due to a global RAM shortage. An unusual situation is unfolding in which the Xbox Series X, which was $499 and about 590,000 won in 2020, will sell for an even higher price in 2026.
The PS5 launched in 2020, and the improved PS5 Pro launched in 2024, with factory prices for the disc versions at 620,000 won and 1.11 million won, respectively. Although a U.S. tariff led to a one-time price increase that drew consumer backlash, rising memory prices are elevating consoles as PC substitutes.
Notably, during this year's Black Friday, PS5 units were reportedly so scarce that they were hard to find. According to market research firm Adobe Analytics, online sales of game consoles last month jumped 740% from the October average, marking the most pronounced growth. Major foreign media reported that during the U.S. Black Friday week, the PS5's sales share reached about 47%, while in the United Kingdom, the PS5 captured 62%. Despite the high price barrier to entry, the PS5 Pro achieved its best sales since launch.
Although Sony and Nintendo have not made official remarks, the industry expects that once memory inventories are depleted, price hikes will be unavoidable. In the case of the PS5, a fixed 16GB of high-bandwidth GDDR6 memory is installed to ensure minimum performance and compatibility, but securing supply and price for that component is difficult. Like MS's Xbox, they may be forced into a situation where they have no choice but to raise prices.
An official at a major domestic retailer said, "Even with the most conservative estimate, memory and solid-state drives (SSD) account for nearly 30% of a game console's manufacturing cost," and added, "With memory prices multiplying, it is difficult for companies like Sony or Nintendo to shoulder all production cost increases on their own. If the memory supply crunch is not resolved next year, Sony, which is preparing to launch a blockbuster like GTA6, will have no choice but to raise the PS5 price."