At about 5 p.m. on the 20th, at a Nintendo store in Yongsan District, Seoul. Office worker Kwon, a person surnamed Kwon (30), who had been lingering for more than 10 minutes, left the store empty-handed. That was because only game cartridges and character goods were on the main display stands, and the Nintendo "Switch 2" console was nowhere to be found. Kwon said, "I heard prices are going up, so I've been going around stores since last week, but I haven't seen any stock," adding, "I hear everywhere else is sold out too, so I'm debating whether to take a day off and line up before opening."
Recently, major console makers have been raising prices one after another, citing factors such as higher memory costs. As demand has piled up to buy products before prices rise, shortages are intensifying for the latest consoles, including the Switch 2. Demand for the PlayStation 5 (PS5), whose price has already been raised, is continuing amid concerns that it will be hard for prices to come back down.
According to the industry on the 22nd, Korea Nintendo will raise retail prices for the Nintendo Switch series starting on the 25th. The base model will rise about 13.9%, from 360,000 won to 410,000 won, and the OLED (organic light-emitting diode) model and the Switch Lite model will each see a 12% increase. The price of the latest model, the Nintendo Switch 2, is also scheduled to rise in September. If the price is raised to a level similar to the Switch 1, projections say the base model price could jump from the current 648,000 won to the mid-to-high 700,000-won range.
The industry believes console prices have risen as memory prices climbed due to a recent surge in demand for semiconductors for artificial intelligence (AI) servers, compounded by supply chain instability stemming from the Middle East situation.
With price hikes signaled, offline stores are crowded daily with consumers looking for the Switch 2. At around 4 p.m. that day, a store in Yongsan District had already sold out of all Switch 2 models. Store employee A said, "The Switch 2 has been sold out for weeks, so we're notifying the arrival time via social media (SNS) shortly before the scheduled restock," adding, "Stock sells out immediately, so it's better to come early."
Because restock volumes themselves are small, the store is limiting Switch 2 sales to one unit per person to prevent reselling. Even so, on days when a notice goes up, an "open run" phenomenon occurs as consumers flock right at opening time.
At about 4:30 p.m. the same day, the game section of a nearby big-box mart showed a similar situation. Store employee B said, "In particular, inquiries flood in during the 2–3 p.m. restock window," adding, "Most of the incoming stock sells out the same day."
Demand for the PlayStation 5 (PS5), whose price has already gone up, is also showing little sign of easing. Sony Interactive Entertainment Korea (SIEK) raised prices for the PS5 base model and Pro model by 200,000 won and 180,000 won, respectively, starting on the 1st. Initially, some in the industry projected that demand could fall given price hikes in the hundreds of thousands of won, but the actual mood has been different.
Employee C said, "Contrary to expectations, inquiries about purchases have continued steadily even after the price went up," adding, "The Pro model, the most expensive, is selling the most." A person surnamed Kim (44), who visited the store that day, also said, "It's unfortunate that the price has already gone up, but I figured memory prices might rise further if I wait, so I came to buy quickly."
The industry believes that, since stabilizing memory prices in the short term will not be easy, securing future supply volumes will be key. However, in the case of the Switch 2, shortages are continuing in global markets as well, leading to projections that expanding supply will not be easy. A Korea Nintendo official said, "We are working to supply appropriate quantities of consoles and software in line with market conditions."