Sony will raise the price of the PlayStation 5 in the US by about $50 from Thursday. The Japanese tech company struggles with rising costs and a slowing video game market.
Sony executive Isabelle Tomatis explained in a blog post that the firm faces a “challenging economic environment.” All three console models will see higher prices. The Pro version will now cost $749.99.
Tariffs from Trump put pressure on the market
The price hikes follow tariffs imposed by President Donald Trump on many trade partners, including Japan. These measures sparked fears of rising costs. Tomatis stated: “We have made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the US starting August 21.” The base model will cost $499.99.
Prices for accessories remain unchanged. The company also announced no further price adjustments for other countries.
Tariffs drive up import costs
Importers of Japanese goods currently face a 15% tariff in the US. Earlier this year, Sony already raised console prices in the UK and Europe, citing high inflation and volatile exchange rates.
Other companies have also increased prices. Nintendo recently raised the price of the original Switch. Games like Mario Kart World now cost up to £75, sparking criticism from players. Microsoft also raised prices for Xbox consoles and accessories in several countries.
Companies warn about rising expenses
In recent months, many corporations have warned about the impact of US tariffs. This week, US home improvement chain Home Depot said some items may become more expensive due to import taxes. Chief financial officer Richard McPhail told the Wall Street Journal: “Tariff rates are significantly higher today than they were last quarter. That will cause modest price increases in some categories, but not broadly.”
In July, Adidas warned that tariffs would add another €200 million to its costs, forcing it to raise prices for US customers. Rival Nike already increased prices for shoes and clothing in May and later estimated that tariffs could add about $1 billion to its expenses.
