Sony announced it will raise the cost of the PlayStation 5 in the US by about $50 starting Thursday. The Japanese company struggles with rising production costs and a slowing gaming industry.
Sony executive Isabelle Tomatis wrote in a blog post that the company faces a “challenging economic environment.” All three versions of the console will be affected. The Pro edition will now carry a retail price of $749.99.
Tariffs increase financial strain
The price hike comes after tariffs imposed by President Donald Trump on several trade partners, including Japan. These policies have sparked fears of higher consumer costs. Tomatis explained: “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 accessories will not see price adjustments and said no other regions will face increases for now.
Import duties add to price pressures
US importers of Japanese goods currently face a 15% tariff. Earlier this year, Sony lifted console prices in Europe and the UK, citing high inflation and volatile exchange rates.
Other gaming companies have also raised prices. Nintendo increased the cost of its original Switch console, while popular games such as Mario Kart World now sell for as much as £75. Microsoft likewise adjusted prices for Xbox consoles and accessories across several markets.
Global companies issue tariff warnings
Many corporations have voiced concerns about tariffs in recent months. US retailer Home Depot said this week that new import taxes could lead to higher prices for certain products. Chief financial officer Richard McPhail told the Wall Street Journal: “Tariff rates are significantly higher now than last quarter. This will cause modest price increases in some categories, but not across the board.”
In July, Adidas said tariffs would add €200 million to its costs, forcing higher prices for American buyers. Nike raised prices on selected shoes and clothing in May and later warned that tariffs could push up expenses by around $1 billion.
