The new pricing, set to take effect in the United States on April 2, will see the standard PlayStation 5 retail at $649.99, up from $549.99. The Digital Edition will increase to $599.99, while the premium PlayStation 5 Pro will be priced at $899.99.
Sony is also raising the price of its PlayStation Portal to $249.99 from $199.99. Similar adjustments are expected across Europe and Japan following what the company described as a “careful evaluation” of mounting cost pressures in global supply chains.
At the heart of the increase is intensifying competition for key components, particularly memory chips. The rapid expansion of artificial intelligence infrastructure has driven chipmakers to prioritise higher-margin data centre products, limiting supply for consumer electronics such as gaming consoles.
Industry analysts warn that the higher prices could weigh on demand in the gaming sector this year. Epic Games, the maker of Fortnite, recently cited slower console sales as one of the reasons behind its decision to cut about 1,000 jobs.
Recent sales figures already point to softening demand. Sony reported that PS5 shipments fell 16 percent year-on-year to 8 million units during the crucial October–December holiday quarter. The console, which has been on the market for about six years, is facing a more mature market cycle alongside economic headwinds.
This latest move follows a previous price increase of roughly $50 implemented by Sony in August last year. Rival Microsoft also raised prices for its Xbox consoles, highlighting broader cost pressures across the gaming hardware industry.
The price adjustments underscore the challenges facing console manufacturers as they navigate supply constraints, evolving technology demands, and a shifting global gaming market.