(Credit: Will Greenwald)
Sony has increased prices on its PlayStation 5 console by roughly 10-15% in Europe, the UK, Australia, and New Zealand.
Starting today, the PS5 Digital Edition will cost €499.99 in Europe, up from €449; £429.99 in the UK, up from £389; AUD $749.95 in Australia, an $80 increase; and NZD $859.95 in New Zealand, an increase of more than $200, Sony announced in a blog post.
The price for the standard PS5 with Ultra HD Blu-ray disc drive has also been increased from AUD $749 to $829.95 in Australia and from NZD $820 to $949.95 in New Zealand.
Sony attributes the price hike to a rapidly changing financial landscape. “With a backdrop of a challenging economic environment, including high inflation and fluctuating exchange rates, SIE has made the tough decision to raise the recommended retail price (RRP) of the PlayStation 5 console in select markets,” Sony says.
The price for PS5 Pro is unchanged in all of these countries, and Sony is lowering the price of the add-on Disc Drive for PS5 to €79.99 in Europe, £69.99 in the UK, AUD $124.95 in Australia, and NZD $139.95 in New Zealand.
Sony didn't mention tariffs, but a "significant proportion of Sony’s PS5 production is located in China," the Financial Times notes, with US imports from the country facing steep import tariffs. Trump paused the implementation of "reciprocal tariffs" for 90 days on all countries except China, though some consumer electronics were just given a temporary exemption.
The tariffs may also be giving Sony cover for a price hike. Serkan Toto, CEO of Tokyo-based Kantan Games, tells CNBC that "user backlash [will] be comparably limited" given the tariff situation, though "I expect Sony to raise prices in the US eventually, once it’s at least a bit more clear where exactly tariffs are headed."
Meanwhile, Nintendo cancelled plans to start taking Switch 2 preorders on April 9 in the US and Canada, citing tariff uncertainty, though it has reportedly stocked at least 1 million Switch 2 consoles in the US.