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It’s about to get more expensive to escape reality.
PlayStation, owned by Sony, announced on Wednesday that it will increase the recommended retail price for its PlayStation 5 consoles by about $50 starting August 21.
“Similar to many global businesses, we continue to navigate a challenging economic environment,” PlayStation said in a press release.
President Donald Trump’s tariffs have pushed numerous companies to consider price increases for their US consumers, including Shein and Adidas.
Sony’s decision to hike PS5 prices follows a similar move by its rival Nintendo, which said it would also raise prices for its original Switch console in the US. Nintendo cited “market conditions” in a press release earlier this month.
The PS5 burst onto the gaming scene to immense fanfare in 2020, becoming the biggest console launch in US history at the time.
The PS5’s popularity made it difficult for Sony to keep up with demand, which made purchasing the coveted console difficult for gamers — even six months after its release.
Sony shared the following new prices for the PlayStation 5:
- PlayStation 5 — $549.99
- PlayStation 5 Digital Edition — $499.99
- PlayStation 5 Pro — $749.99
The post Sony blames ‘challenging economic environment’ for PS5 price hikes appeared first on Business Insider.
