- Sony (NYSE:SONY) will raise the price of its PlayStation 5 consoles as of today, August 21, giving people one day to make a move on its five-year-old piece of hardware
- The price increase is US$50 across the board and so far, only applies to the U.S. market
- Sony told investors that it blames the current tariff situation and forecasts a US$680 million hit to profits, so that cost increase is being passed on to the consumers
- Sony stock (NYSE:SONY) opened trading at US$27.69
Well, I warned you … or more accurately, Sony (NYSE:SONY) warned you.
The company announced via the PlayStation Blog that it will raise the price of its PlayStation 5 consoles as of today, August 21, giving people one day to make a move on its five-year-old piece of hardware. The price increase is US$50 across the board and so far, only applies to the U.S. market.
- PlayStation 5 – US$549.99
- PlayStation 5 Digital Edition – US$499.99
- PlayStation 5 Pro – US$749.99
Sony told investors that it blames the current tariff situation and forecasts a US$680 million hit to profits, so that cost increase is being passed on to the consumers.
This follows Microsoft (NASDAQ:MSFT) raising the prices on its X-Box series consoles back in May and Nintendo (OTC Pink:NTDOF) raised the prices in Canada on its Switch 1 consoles and accessories.
What will this mean for the price of future consoles? The new ROG Xbox Ally handheld console set to arrive in October 2025 will reportedly retail for between US$549.99 and US$899.99 in the US (roughly C$765 and C$1,250).
Sony Corp. is one of the most comprehensive entertainment companies in the world, with a portfolio that encompasses electronics, music, motion pictures, mobile, gaming, robotics and financial services.
Sony stock (NYSE:SONY) opened trading more than 1 per cent lower at US$27.69 but has risen 31.12 per cent since the year began and 51.96 per cent since this time last year.
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