Sony announced that it will increase the cost of the PlayStation 5 in the US by around $50 starting Thursday. The Japanese electronics group struggles with rising operational costs and a slowdown in the gaming market.
Sony executive Isabelle Tomatis explained in a blog post that the company faces a “challenging economic environment.” All three models of the console will become more expensive. The Pro version will now retail for $749.99.
Tariffs escalate financial pressure
The move follows tariffs introduced by President Donald Trump against several of America’s trading partners, including Japan. These trade measures have raised concerns about higher consumer prices. Tomatis said: “We made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the US starting August 21.” The standard model will now cost $499.99.
Sony stressed that prices for accessories remain unchanged and confirmed no additional price adjustments for other countries.
Import duties affect global markets
Importers of Japanese goods currently pay a 15% tariff in the US. Earlier this year, Sony lifted console prices in the UK and Europe, pointing to high inflation and unstable currency exchange rates.
Rival firms also raised prices. Nintendo increased the cost of the original Switch, with popular titles like Mario Kart World now selling for up to £75. Gamers criticized the rising costs. Microsoft also adjusted prices for Xbox consoles and accessories in several regions.
Major brands warn of tariff impact
Several international companies have warned about the effects of tariffs in recent months. US retailer Home Depot said this week that new import taxes could make some items more expensive. Finance chief Richard McPhail told the Wall Street Journal: “Tariff rates are far higher now than last quarter. That will result in modest price increases in some categories, though not across the board.”
In July, Adidas announced that tariffs would add €200 million to its expenses, leading to higher prices for American buyers. Nike raised the cost of selected shoes and clothing in May and later warned tariffs could push expenses up by around $1 billion.
