PS5 gets price hike again as Sony cites global cost pressures

Sony has announced a new price increase for its PlayStation 5 consoles, with changes set to take effect on April 2. The move raises prices by up to $150 and may also affect markets like the Philippines, where local pricing often follows global trends.

In the United States, the PS5 disc version will increase from $549.99 to $649.99, while the digital version will go up to $599.99. The PS5 Pro will see the largest jump, now priced at $899.99. Sony said the increase is due to pressure from the global economy and rising costs of key components.

One of the main reasons is the higher cost of memory parts used in the console. These parts are in demand due to growth in AI data centers, which has limited supply and pushed prices higher. Sony also pointed to inflation and other global factors affecting production.

While there is no official price change yet in the Philippines, similar increases in Japan, the U.K., and Europe suggest local prices could also rise. Retailers in the country may adjust pricing depending on supply, import costs, and exchange rates.

Industry analyst Piers Harding-Rolls said the price hike was expected and added that companies like Microsoft and Nintendo could follow if costs remain high.