Sony raises PlayStation 5 prices in US as tariff fears persist

Sony has announced that it will be increasing the price of its PlayStation 5 gaming consoles in the United States by about $50 starting Thursday. The base model of the PlayStation 5 will now cost $499. 99, while the most advanced Pro version will be priced at $749. 99. This decision comes as Sony faces rising costs and a slowdown in the video game market. Isabelle Tomatis, Sony Interactive Entertainment's vice president of global marketing, explained in a blog post that the company is dealing with a challenging economic environment, similar to many other global businesses.

The price hike is not limited to just one version of the PlayStation 5; all models will see an increase. However, Sony has stated that the prices for PlayStation 5 accessories, such as controllers and headsets, will remain unchanged. Additionally, there are no plans to raise prices in other countries at this time. Earlier this year, Sony increased prices in regions like Europe, citing high inflation and fluctuating exchange rates as the main reasons.

Other major gaming companies have also raised their prices recently. Nintendo increased the price of its original Switch console, and popular games like Mario Kart World now cost £75, which has led to complaints from players about the rising cost of gaming. Microsoft has also raised the prices of its Xbox consoles and accessories in several countries. These price increases are partly due to tariffs imposed by US President Donald Trump on many imported goods, including those from Japan. Tariffs are taxes placed on products brought into the country, and they can make items more expensive for consumers. Companies like Home Depot, Adidas, and Nike have warned that tariffs could lead to higher prices for their products. Nike, for example, said that tariffs could add about $1 billion to its costs. As tariffs continue to affect the market, US consumers may see more price increases on a variety of goods, from video games to clothing and shoes.