In a surprising move, Sony has announced a price increase for its PlayStation 5 console, just as the gaming system approaches its fourth year on the market. Starting September 2nd, the PS5’s price will jump 19% to 79,980 yen ($553), reflecting the challenges posed by the fluctuating global economy.
This decision comes at a time when PS5 unit sales have dipped in the June quarter, even as Sony’s gaming division saw a boost in profit and revenue from existing players continuing to invest in games and services. While the price hike may raise eyebrows, anticipation is building around a potential “Pro” version of the PS5, which analysts believe could be announced later this year, potentially reigniting sales.
Meanwhile, Sony made headlines in another arena, resolving a legal dispute with Zee Entertainment over their stalled $10 billion merger of India units. The news of the settlement contributed to a 2.8% rise in Sony’s shares in Tokyo, adding to the buzz surrounding the company’s strategic moves in the gaming industry and beyond.
