Gamers Face Price Rise on PS5

Gamers that are out there trying to get a new console to face a new price rise if they are intending to buy the new PlayStation 5.

What are the New Price Rise of the PS5?

In the UK the PS5 will start retailing at an extra cost of up to £30 while the rest of the EU countries face an increase of up to €50 (£42). In Canada, the console will increase its price by CAD $20.

Why the Price Rise of the PS5? Sony says that it’s increasing the price of the new console due to inflation.

US Market Unaffected

Even though Sony has increased prices in many regions, there is no PS5 price rise in the US. This has been necessitated by the strength of the dollar.

Sony is a household global brand operating in various markets. It has also been affected by the rising cost prices that are being felt globally. Therefore, that is why you see prices shooting in some markets while others remain unaffected.

Jim Ryan who is Sony Interactive Entertainment’s head and chief executive said that the worldwide economy is a challenge that many are facing.

There are many global inflation rates and erratic currency trends that are taking a toll on consumers and putting more pressure on various industries.

However, Sony believes that the price increase will not affect and put off gamers that are enthusiasts. This is due to the fact that the demand for the PS5 has been high. Therefore, the price increase won’t have an impact on their sales.

However, other potential rivals like the Xbox console are bracing themselves to take advantage of the situation. This is because it is the cheaper console in the market coupled with a game pass.

With time we will see if this move by Sony will affect its sales.