Key Takeaways
- The PlayStation 5’s price is going up in Japan due to global economic challenges, impacting both physical and digital versions.
- Despite high demand, the PS5 continues to see price increases, with Japanese customers facing more significant costs.
- Sony cites a challenging external environment and global economic fluctuations as reasons behind the latest price increase.
As a lifelong PlayStation enthusiast hailing from Japan, it’s always a rollercoaster ride with each new console release. The latest twist is the price increase for our beloved PlayStation 5, making me question if I should start saving up for rice instead!
The PlayStation 5 is experiencing another price hike, but only in Japan at this time. Since its debut in 2020, Sony’s latest gaming console has seen fluctuations in cost due to factors such as production expenses and the effects of significant events like COVID-19 on manufacturing and distribution. The prices vary across regions due to these factors and others.
In 2022, Sony disclosed that it would increase the cost of the PlayStation 5 in countries such as Canada, Mexico, Europe, the UK, Australia, China, and Japan. This decision was made in response to global inflation and the high cost of the components needed to manufacture the console, which is already quite pricey. Interestingly, this price rise did not seem to affect the demand for the PS5, as it continued to outsell the Xbox Series X/S by approximately two-to-one, shifting 50 million units globally within the previous year.
It appears that there’s going to be a price hike for the PlayStation 5 in Japan, according to the Japanese edition of PlayStation Blog (via ComicBook). Sony has announced that they will boost the cost of both physical and digital versions of the PS5 console by approximately 13,000 Yen, which is roughly $90. This means the physical PS5 will now be priced at around ¥79,980 ($555.44), while the digital edition PlayStation 5 without a disc drive will be sold for about ¥72,980 ($506.82). Sony attributed this price increase to the difficult economic climate globally and its potential impact on their business.
The Price of the PlayStation 5 is Going Up in Japan
To date, no information has been shared regarding PS5 price increases in other markets; instead, some regions have even experienced significant PS5 discounts this year. However, it’s surprising that the cost of the console is rising in specific areas, as most PlayStation consoles tend to decrease in price by now during their lifecycle. Previously, Sony CFO Hiroki Totoki mentioned that implementing a permanent price reduction would be challenging due to the complexities involved in reducing the die size of the console’s hardware components, which usually contributes to lower production costs.
Contrarily, the cost of the PlayStation 5 is actually increasing in some regions, including Japan, as shown by its latest price increase. It remains uncertain if or when the prices will decrease again, but for now, potential buyers in Japan should be prepared to spend a substantial amount of Yen on this gaming console.
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2024-08-28 00:14