Sony Increases PS5 Prices Again

Japanese tech giant Sony has decided to raise the price of its popular gaming console, the PlayStation 5 (PS5), once again. This marks the second price increase within a year. The new pricing adjustment will take effect from April 2, with the standard PS5 version in the United States rising from $549.99 to $649.99, an increase of $100. The PS5 Digital Edition price has gone up to $599.99, while the high-end PS5 Pro model now costs $899.99. Additionally, the PlayStation Portal remote player has increased from $199.99 to $249.99. Sony cites the main reasons for this price hike as the rising cost of memory chips and global supply chain pressures. The surge in demand for chips used in Artificial Intelligence (AI) infrastructure has led chip manufacturers to prioritize production for data centers, limiting chip availability for consumer devices.

This situation has driven up production costs for devices like gaming consoles, prompting Sony to pass these costs onto consumers through higher prices. Analysts warn that the PS5 price increase could negatively impact growth in the gaming market. During the last holiday season (October-December), PS5 sales dropped by 16%, down to 8 million units. Sony also raised PS5 prices by $50 in August last year, and Microsoft followed suit with price hikes for its Xbox consoles. This trend highlights how the rise in AI technology and chip demand is affecting the gaming industry as well.

Consequently, we at SL Geek expect PS5 console prices in Sri Lanka to increase by approximately LKR 40,000.