The price of the Sony PS5 has increased in some countries amid high levels of inflation

Tokyo: Japanese technology giant Sony on Thursday said it is increasing the price of the Play Station 5 (PS5) in select markets due to the global economic situation, including high inflation. The new recommended retail price (RRP) is coming to select markets in Europe, the Middle East and Africa (EMEA), Asia Pacific (APAC), Latin America (LATAM), and Canada. Sony PS5 Restock in India: PlayStation 5 will be available for pre-booking today, check details here.

“The global economic environment is an issue that is no doubt facing many of you around the world. We are seeing high levels of global inflation as well as adverse currency trends that are affecting consumers and putting pressure on many industries,” said Jim Ryan , president and CEO of Sony Interactive Entertainment, said in a blog post.

“Based on these challenging economic conditions, SIE has made the difficult decision to raise the suggested retail price of the PlayStation 5a,” added Ryan. The company noted that there will be no price increase in the US.

In Europe, the PS5 with Ultra HD Blu-ray disc drive will now be available for €549.99 ($549.84) and the PS5 Digital Edition for €449.99 ($449.86). Likewise, in China, the PS5 with Ultra HD Blu-ray disc drive will be available for 4,299 yuan ($627.73), while the PS5 Digital Edition will be available for 3,499 yuan ($510.91).

“While this price increase is necessary given the current global economic environment and its impact on SIE’s business, our top priority remains improving the PS5 supply situation so that as many players as possible can experience all that PS5 has to offer, and what is yet to come. “, the company said.

The PS5 was launched in India at Rs 39,990 for the digital edition and Rs 49,990 for the Blu-ray version.

(The above story first appeared on LatestLY on 25 Aug 2022 at 15:50 IST. For more news and updates on politics, world, sports, entertainment and lifestyle, visit our website Latestly.com).