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PS5 price hike confirmed — it's going to hurt your wallet

PS5 sells 7.8 million consoles
(Image credit: Future)

The price of the PS5 is going up, due to the “global economic environment” and “high inflation rates.” 

In a PlayStation blog post (opens in new tab) by CEO Jim Ryan, the cost of both the Digital Edition and Disc Edition of Sony’s latest console is set to go up by up to 10% in Europe, UK, Japan, China, Australia, Mexico and Canada — creating another wrinkle in the whole rigmarole of trying to get a PlayStation 5.

What are the price increases?

These price hikes are effective immediately in all territories except for Japan. If you are affected, here’s how much you will be paying.

Europe

PS5 with Ultra HD Blu-ray disc drive – €549.99

PS5 Digital Edition – €449.99

UK

PS5 with Ultra HD Blu-ray disc drive – £479.99

PS5 Digital Edition – £389.99

Japan (effective Sept. 15, 2022)

PS5 with Ultra HD Blu-ray disc drive – ¥60,478 yen (including tax)

PS5 Digital Edition – ¥49,478 yen (including tax)

China

PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan

PS5 Digital Edition – ¥3,499 yuan

Australia

PS5 with Ultra HD Blu-ray disc drive – AUD $799.95

PS5 Digital Edition – AUD $649.95

Mexico

PS5 with Ultra HD Blu-ray disc drive – MXN $14,999

PS5 Digital Edition – MXN $12,499

Canada

PS5 with Ultra HD Blu-ray disc drive – CAD $649.99

PS5 Digital Edition – CAD $519.99

People in North America can breathe a sigh of relief, as it looks like those retail prices are not being affected for now, but time will tell whether that will bear the brunt of a cost increase too. 

Because this is not new news in consumer tech, unfortunately. We’re hearing rumors that the iPhone 14 Pro price will be going up as well for the same reason, for example. It’s a tricky time out there for gadget lovers and gamers.

Outlook

This is not the kind of announcement we wanted to hear during Gamescom. At a time when we’re all struggling financially, this is going to put the PS5 a little further out of reach of people keen to buy one.

So, what can Sony do in the face of this uphill battle to win back the potential punters? Well, the options are two fold: making PlayStation games more accessible and building hype around the exclusive titles that are coming soon.

We sure could do with a PlayStation showcase soon and maybe an announcement of proper cloud gaming (as I’m betting will happen in September). They won’t completely remove the bad taste from the mouths of people who are already feeling the pinch, but at least its something.

Though if you do want to get into next generation gaming on the cheap, the Xbox Series S is still a great option.

Jason England
Staff Writer

Jason brings a decade of tech and gaming journalism experience to his role as a writer at Laptop Mag. He takes a particular interest in writing articles and creating videos about laptops, headphones and games. He has previously written for Kotaku, Stuff and BBC Science Focus. In his spare time, you'll find Jason looking for good dogs to pet or thinking about eating pizza if he isn't already.