Sony PS5 price hike in several markets, India may be next

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If you have been waiting to buy Sony PlayStation 5, there is bad news. Sony has announced it is increasing the PS5 price in several markets, including the UK, Europe, Australia, and Canada. The new price is as high as 10 percent in Europe, where the PS5 will become even more elusive. Sony has not said anything about the India price of the PlayStation 5 but mentions that the retail price will increase in the Asia-Pacific (APAC) region, among others. Also Read — Sony increases PS5 prices in several markets, will Xbox be next?

The price hike is an outcome of the current global economic environment, including “high global inflation rates” and “adverse currency trends”. Jim Ryan, President and CEO of Sony Interactive Entertainment, said both these factors among several others are impacting consumers and creating pressure on many industries. Also Read — Sony PS5 restock today: Here’s how to pre-order PlayStation 5 gaming console in India

“Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price (RRP) of PlayStation 5 in select markets across Europe, Middle East, Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada,” he said. Also Read — Sony PS5 Horizon Forbidden West Bundle is coming to India: Check Price and details

However, PS5 buyers in the US will be lucky as the price hike is not applicable to them. “There will be no price increase in the United States.” While Ray has not mentioned India, it is likely the prices here will go up eventually.

While Sony has hiked the price of PS5 in its priority markets, availability remains a big issue. Ever since its launch, PS5 has been available in limited stocks that go off shelves in an instant.