Sony announced on the Japanese PlayStation blog that the PlayStation 5 is witnessing a surge in price in Japan due to the current challenging external circumstances impacting their business. The price increment of $90 in Japanese Yen is quite a substantial hike for the console. Despite the global financial strains faced by PlayStation, the magnitude of this latest price adjustment might catch some consumers off guard.
For gamers residing in Japan who are eyeing the PlayStation 5, the time to make a purchase is now as the price revision will come into effect on September 2. The disc version of the PlayStation 5 will see an escalation from ¥66,980 (~$465) to ¥79,980 (~$550), while the digital edition’s price will elevate from ¥59,980 (~$417) to ¥72,980 (~$507).
In comparison to other gaming consoles, the PlayStation 5 stands out as the only one that has not witnessed any price reduction since its launch, except for occasional temporary discounts. The scarcity of these sales events makes it increasingly challenging for buyers to acquire the console at a reasonable cost, especially when contrasted with the more affordable Xbox Series X|S and Nintendo Switch.
Notably, Japan has seen multiple price hikes specifically for the PlayStation 5 since its debut, with both editions experiencing significant price jumps. The cumulative price increase in Japan for the disc and digital versions amounts to approximately $210 and $225, respectively, contrasting with other regions where prices have remained relatively stable. The previous price raise in Japan also impacted the UK and Europe, indicating the possibility of a similar trend following this latest adjustment.
Expanding beyond the console itself, Sony has disclosed that accessories for the PlayStation 5 will also undergo price revisions in Japan, including the DualSense Wireless Controllers and the PlayStation VR2, effective from September 2. Whether these accessory price adjustments will extend globally remains uncertain until after the changes are formally implemented in Japan.
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