(Reuters) -Sony will raise prices of its PlayStation 5 consoles in the United States by around $50 from Thursday, as the Japanese conglomerate navigates a slow recovery in the videogame market while
Sony Increases PlayStation 5 Prices in the US Amid Tariff Concerns
Impact of Price Hikes on the Gaming Market
(Reuters) -Sony will raise prices of its PlayStation 5 consoles in the United States by around $50 from Thursday, as the Japanese conglomerate navigates a slow recovery in the videogame market while U.S. tariffs threaten to raise costs.
Details of the Price Increase
All three PlayStation 5 consoles will see a similar price hike, with the most expensive PS5 Pro version expected to cost $749.99, the company said in a blog post on Wednesday.
Market Reactions and Future Outlook
The price changes come after U.S. President Donald Trump announced sweeping tariffs on imports from global manufacturing hubs such as China and Japan, leading to fears of supply chain disruptions and high material costs.
Regional Price Stability
Sony had raised prices of its consoles in various European markets in April. Rival Xbox also hiked sticker prices of its consoles and accessories in the U.S., Europe, Australia and the UK a month later.
Consoles were expected to be a major driver of videogame market growth this year due to the launch of premium titles such as Take-Two Interactive's "Grand Theft Auto VI" and Nintendo's Switch 2.
But console price hikes and the delay of highly-anticipated "GTA VI" to next year have cast some doubt on the pace of growth in the industry.
On Wednesday, Sony said there are no price changes for other markets and prices of PlayStation 5 accessories remain unchanged.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Leroy Leo)
