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Sony surprisingly increases prices for PlayStation 5 in Japan

Key findings

  • Sony Group announced that it is increasing the price of its PlayStation 5 in Japan by 19% to around 80,000 yen ($550), an unexpected move by the technology and entertainment giant.
  • The price increase comes despite the console being four years old, sales declining and a revised version of the console expected in the coming months.
  • Sony reportedly increased the price to reflect the “harsh external conditions.”

Sony Group (SONY) announced that it is increasing the price of its PlayStation 5 in Japan by 19% to around 80,000 yen ($550), an unexpected move by the technology and entertainment giant.

The price increase comes despite the console being four years old, sales declining and a revised version of the console expected in the coming months.

Price increase explains “difficult external environment”

“This decision takes into account the business impact of the difficult external environment, including recent global economic fluctuations,” Sony said in a Japanese blog post. Bloomberg Translation.

Sony's American Depositary Receipts (ADRs) rose 3% to $95.54 at around 10:15 a.m. ET on Tuesday and are expected to turn positive in 2024.

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