Stop us if this sounds like a déjà vu: A prominent video game console maker has proclaimed a price hike in the United States attributed to “a tough economic climate.”
On August 20, shortly before the Made by Google Pixel 10 release, Sony announced a $50 rise in the suggested prices for PS5 consoles aimed at U.S. retailers. These updated prices are anticipated to take effect from Thursday, August 21, with variations in implementation among retailers.
The announcement was posted on the PlayStation website in a concise statement from Isabelle Tomatis, Vice President of Global Marketing at Sony Interactive Entertainment.
“Like numerous global enterprises, we are maneuvering through a tough economic climate. As a result, we have made the challenging choice to raise the recommended retail price for PlayStation 5 consoles in the U.S. beginning August 21… The suggested retail prices for PlayStation 5 accessories will remain the same, and we have no other pricing modifications to declare for additional markets.”
Effective tomorrow, the new suggested retail prices for PS5 consoles will be:
PlayStation 5 – $549.99
PlayStation 5 Digital Edition – $499.99
PlayStation 5 Pro – $749.99
Sony did not reveal price alterations for other nations, and the statement did not clarify whether PS5 bundles would be impacted, although it seems plausible.
While the statement does not directly reference tariffs, the phrase “tough economic climate” is frequently utilized by technology companies to rationalize price increases linked to President Trump’s tariffs.
When Nintendo announced a price hike for the original Switch consoles effective August 3, it cited “market conditions” as the cause. Likewise, Microsoft pointed to “market conditions” when announcing price elevations for Xbox consoles in April.
As previously mentioned by Mashable, the most recent wave of tariffs from the White House (both threatened and actual) could considerably affect video game consoles and gaming peripherals.
“[A] number of the large electronic brands might have sidestepped some tariffs by amassing inventories earlier this year, prior to the announcement of tariffs,” stated Rick Kowalski, Senior Director of Business Intelligence at the Consumer Technology Association, in a prior discussion with Mashable regarding tariffs. “These stockpiles will only last a few months at the most, so ultimately, importers will have to replenish, and they will bring in more products at the elevated tariff rates.”