Sony Interactive Entertainment’s current-gen console, the PS5, has begun selling out in Japan ahead of the official price increase, based on the latest report.
Dr. Serkan Toto, CEO of Japan game industry consultancy Kantan Games, has shared that the PS5 has sold out at a consumer electronics retailer chain in Japan, known as Bic Camera, before the recently announced price increase goes into effect on September 2, 2024. He mentioned that just as he arrived at the store, he could see Bic Camera staff changing the PS5 display tags for both versions to “sold out”.
For those unaware, Sony Interactive Entertainment recently announced its decision to revise the suggested retail prices of PS5 and related peripherals in Japan from Monday, September 2, 2024. The company cited the recent challenging external environment, including the current fluctuations in the global economic situation, and its impact on the console business, as the reason behind this decision. The retail price for the PS5 Digital Edition has increased from 59,980 Yen to 72,980 Yen, and the retail price for the disc version of the console has increased from 66,980 Yen to 79,980 Yen.
Exactly two years ago, Sony Interactive Entertainment had announced an increase in the price of the PS5 in other markets due to the global economic environment, which includes high inflation rates. Due to challenging economic conditions, the console maker made the decision to increase the recommended retail price of PS5 in markets across Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada. No price increase was announced in the United States, however.The retail price for the PS5 Digital Edition increased to €449.99 in Europe and £389.99 in the UK, and the retail price for the disc version of the console increased to €549.99 in Europe and £479.99 in the UK. According to the console maker, the price increase was a necessity given the global economic environment and its impact on its business.
