PS5 Price Increase Might Not Have Negative Sales Impact

gamerant.com:

Even two years after the console first launched, it is still difficult for a lot of gamers to get their hands on a PlayStation 5. Sony's latest piece of gaming hardware remains elusive to many due to scalpers, availability, and other issues. Recently, Sony added another barrier to many gamers by increasing the price of the PS5 due to the global economic environment. While it hasn't yet announced a price increase in the U.S, plenty of other regions have seen the console's retail value grow.

So far, regions such as the U.K., Europe, and Japan are all set to see PS5 price increases, and while the figures aren't exponential, they could be enough to theoretically prevent some from purchasing the console. However, according to data and analytics firm Ampere Analysis, even with the PS5 price increase the sales of the console may see a «minimal impact.» Ampere's Research Director Piers Harding-Rolls predicted that the existing demand for the PlayStation 5 meant that Sony would have little need to alter its sales forecast.

PS5 Supply Issues May Continue Until 2024

Harding-Rolls explained that while «there will be disappointment for some consumers,» such as those who have been saving up to buy a PlayStation 5 or those who've been otherwise struggling to find one, the price increase of «around 10%» isn't enough to heavily impact the sales of the console. According to Harding-Rolls as well, Sony's hand was forced in increasing the price of the PS5 due to supply chain and distribution costs increasing. Also, there have been a multitude of chip issues that have severely impacted the production of gaming consoles such as the Nintendo Switch and PS5.

These chip issues that have plagued the gaming industry aren't likely to end anytime soon