London, UK – Sony has announced a significant price increase for its PlayStation 5 console hardware in various regions, including the UK, Europe, Australia, and New Zealand. The company attributes this price hike, ranging from 10-15%, to a challenging economic environment. US import costs and tariffs are likely factors contributing to this decision, hinting at a possible price increase in the US market in the near future.

Most of Sony’s PlayStation 5 hardware is manufactured in China, which is currently facing 145% tariffs on imports into the US. This situation, combined with the exclusion of game consoles from the recent pause on some tech tariffs, has pushed Sony to adjust prices in other markets, potentially to mitigate the impact of a price increase in the US, a crucial market for the company.

The Digital Edition of the PS5 is set to see the most substantial price increase across all markets, while the standard version with a disc drive will only see a price hike in Australia and New Zealand, and not as significant. Interestingly, the PlayStation 5 Pro will maintain its current price across all regions, with Sony also decreasing the price of its add-on disc drive accessory.

In a blog post addressing the price adjustment, Sony points towards high inflation and fluctuating exchange rates as the primary reasons behind the decision. However, there is no direct mention of the impact of tariffs or increased import costs into the US market, where prices will remain unchanged, at least for the time being.

This marks the second time Sony has raised prices for the PS5 in these markets, following a similar move in August 2022. Back then, the company cited high global inflation rates and adverse currency trends but explicitly stated that prices in the US would not be affected. This time, there is no such assurance given, raising concerns among analysts like Serkan Toto about the stability of PlayStation prices in the US market.

With these price adjustments, consumers in the UK, Europe, Australia, and New Zealand will have to reconsider their budgets when purchasing Sony’s popular gaming console. As the company navigates the challenges of the current economic landscape, it remains to be seen how the market and consumers will respond to these changes.