The price of a PlayStation is going up by another $100, the second time in less than a year that…
The price of a PlayStation is going up by another $100, the second time in less than a year that Sony has upped the price tag on its popular gaming console.
Citing “continued pressures in the global economic landscape,” the Japanese company said that as of next Thursday, the PS5 will cost $649.99 in the U.S. The price for its digital edition was also raised by $100, to $599.99. The PS5 Pro will cost $899.99, a $150 increase.
The company raised prices similarly for other regions, including the United Kingdom, Europe and Japan.
Global trade has been upended by U.S. tariffs imposed on all of the nation’s trading partners and Sony bumped up the price for the PlayStation by $50 just last August. The war in Iran, now it its fourth week, has created a massive bottleneck of energy and manufacturing supplies, creating more price pressures for everyday goods, including electronics.
By the end of next week, the cost of a Sony PlayStation will be about 30% more than it was at this time last year.
“We know that price changes impact our community, and after careful evaluation, we found this was a necessary step to ensure we can continue delivering innovative, high-quality gaming experiences to players worldwide,” Sony said in a blog post on its website.
Though Sony did not specifically cite it as a cause, Iran’s attack last week on Qatar’s natural gas export facility forced it to shut down, threatening supplies of helium, a key ingredient used to produce computer chips. Qatar supplies a third of the world’s helium, according to the U.S. Geological Survey.
Qatar’s state-owned gas company said last week the shutdown would slash helium exports by 14%. Lower supply means higher prices, especially if the war drags on for months or longer, analysts said.
While most people know of helium as the gas that makes party balloons float, it is also essential for manufacturing semiconductors used in computers and an array of other tech devices.
Last month, Sony reported that its profit in the October-December quarter surged 11% to 377.3 billion yen ($2.4 billion), prompting the Japanese entertainment and electronics company to raise its full-year profit forecast to 1.13 trillion yen ($7.2 billion).
The PlayStation console celebrated its 30th anniversary in North America and Europe last year.
Rival Microsoft raised prices for some versions of its Xbox gaming console in September — long before the Iran war broke out — citing “changes in the macroeconomic environment.”
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