Sony will raise the price of the PlayStation 5 in the United States by about $50 beginning Thursday. The Japanese technology giant is struggling with higher production costs and weaker demand in the gaming sector.
Sony executive Isabelle Tomatis explained in a blog post that the company is working in a “challenging economic environment.” All three models of the console will see higher prices. The Pro version will now retail for $749.99.
Tariffs spark rising costs
The price adjustment comes after tariffs imposed by President Donald Trump on several trade partners, including Japan. These tariffs created fears of higher expenses for US consumers. Tomatis said: “We made the difficult decision to raise the recommended retail price for PlayStation 5 consoles in the US starting August 21.” The base model will now cost $499.99.
Sony confirmed that accessory prices remain unchanged and said no further adjustments are planned for other countries.
Import duties hit gaming industry
Importers of Japanese goods in the US currently pay a 15% tariff. Earlier this year, Sony already raised prices in the UK and Europe, citing inflation and volatile currency exchange rates.
Other gaming companies followed suit. Nintendo raised the cost of its original Switch console. Popular games such as Mario Kart World now sell for up to £75, drawing criticism from players. Microsoft also increased prices for Xbox consoles and accessories in multiple countries.
Global companies issue warnings
Several international corporations warned recently about the impact of tariffs. US retailer Home Depot said this week that import taxes could raise the price of certain products. Finance chief Richard McPhail told the Wall Street Journal: “Tariff rates are far higher now than last quarter. This will cause modest price increases in some categories, though not across the board.”
In July, Adidas revealed tariffs would add €200 million to its costs and confirmed higher prices for American buyers. Nike increased the price of some shoes and clothing in May and later estimated tariffs could raise expenses by about $1 billion.
