Sony will raise the price of the PlayStation 5 in the US by around $50 starting Thursday. The Japanese technology company faces rising expenses and a weakening video game market.
Sony executive Isabelle Tomatis said in a blog post that the company operates in a “challenging economic environment.” All three console versions will see price increases. The Pro edition now carries a price tag of $749.99.
Trade tariffs fuel cost pressures
The move follows tariffs introduced by President Donald Trump against several major trade partners, including Japan. These tariffs have fueled concerns about higher costs. Tomatis stated: “We made the difficult decision to raise the recommended retail price for PlayStation 5 consoles in the US starting August 21.” The standard model will cost $499.99.
Sony confirmed that accessory prices remain the same. No further changes are planned for other countries at this time.
Rising tariffs hit importers
US importers of Japanese goods currently pay a 15% tariff. Earlier this year, Sony raised prices in the UK and Europe due to inflation and volatile currency markets.
Competitors have taken similar steps. Nintendo recently increased the price of the original Switch console. Popular games like Mario Kart World now sell for up to £75, drawing criticism from players. Microsoft also lifted prices for Xbox consoles and accessories across several markets.
Global companies warn about higher costs
Several multinational companies have voiced concerns about tariffs in recent months. US retailer Home Depot warned this week that new import taxes could push some product prices higher. Chief financial officer Richard McPhail told the Wall Street Journal: “Tariff rates are much higher now than they were last quarter. This will result in modest price increases in certain categories, though not across the board.”
In July, Adidas warned that tariffs would add €200 million to its expenses, forcing higher prices for US buyers. Nike had already raised prices in May for some shoes and clothing and later estimated that tariffs could increase its costs by about $1 billion.
