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Takeaways
- Sony announced price increases for PS5 consoles across Europe, Australia and New Zealand.
- The company cited a "challenging economic environment," but did not mention the Trump administration's tariffs directly.
- Sony did NOT respond immediately to an inquiry about its plans to raise the PS5 price in the U.S.
Sony (SONY), citing a challenging economic environment including high inflation and fluctuating currency rates, has increased the PlayStation 5 price in international markets such as Europe, Australia and New Zealand.
BBC reported that PS5 Digital Edition costs 429.99 pounds ($567) and 499.99 euro ($568) in Europe. This represents an increase of 40 pounds or 50 euros. The price of the PS5 Digital Edition consoles and Standard PS5 with Ultra HD Blue-ray disc drive consoles has increased in Australia and New Zealand.
Sony did not address the Trump administration’s sweeping tariffs that included an initial import tax of 24% on goods from Sony’s home country, Japan, when announced on April 2, 2018. This has been replaced by a 10% base tariff. According to Eurogamer, video-game consoles do not qualify for the recently announced exemptions on tariffs for smartphones and computers.
Sony did respond to Investopedia’s question about whether they plan to raise PS5 prices in America as well. U.S.-listed shares are up by 40% in the last 12 months and 2.2% over recent trading.
