Due to a “challenging external environment,” Sony will increase the PS5’s price in Japan by 19 percent. The new price of the standard PS5 model will be ¥79,980 (about $554) and will come into effect by September 2, 2024. Prices for the console in other countries are not affected.
It’s important to note that Sony raised PS5 prices around the world two years ago, with the exception of the US. Similar to the Japanese price hike, Sony also remarked that “challenging economic decisions” led to this difficult decision. Without getting into specifics, the console isn’t the only product about to cost more, as accessories like the DualSense controller and PlayStation VR2 are also experiencing price hikes.
A price hike this late into the console’s life and by this much is rather unusual, and Sony is expecting fewer PS5 sales for the fiscal 2025 year. But despite that slowdown, the PS5 reached 50 million sales last year and is outselling the Xbox Series X/S by a wide margin.
There are also rumors that a PS5 Pro will come out this fall. While it’s not likely why the PS5’s price in Japan is increasing, it’s still a potential factor in how Sony considers pricing the current model. Nevertheless, the PS5 Pro is still unconfirmed.