Why the PS5 Price Increase Could Come to the US Next
Since the Playstation 5 launched in 2020, Sony has struggled to keep up with fans’ desire for the console. Just like the Xbox Series X and Nintendo Switch, the latest PlayStation has been flying off the shelves worldwide and doesn’t look to be slowing down anytime soon. With demand staying high and global inflation on the rise, Sony announced a price increase for the PS5, which has left many gamers discouraged.
Launched in the middle of the COVID-19 pandemic, there was a perfect storm of demand that Sony is still trying to meet. Many people were stuck at home, had extra money to spend, and turned to video games as a way to pass time and connect with friends, which allowed Sony to make the PS5 one of the most expensive consoles at launch. The PS5 had a hefty price tag from the start, and now that will be increasing in almost every major market outside the United States. While fans in the States can rest easy for now, Sony will likely be raising the PlayStation 5’s price in the US shortly.
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In a post on the official PlayStation Blog, Sony Interactive Entertainment CEO Jim Ryan revealed that the price of a PS5 will climb in Canada, Mexico, Europe, the U.K., Australia, China, and Japan. The increase will affect both the standard and digital editions of Sony’s signature console and will cost gamers the equivalent of $50 USD above its previous price.
Typically, as consoles age, their value decreases. However, the latest gaming systems have been an exception to the rule. Demand has cooled slightly, but many gamers are still struggling to obtain a PS5 or Xbox Series X. Price increases for consoles are not unheard of, but one taking place this far removed
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