PlayStation 5 Price is Increasing in Japan For The Third Time

Since its launch in November 2020, the PlayStation 5 (PS5) has remained one of the most sought-after gaming consoles in the world. However, the PS5 has also been marked by price fluctuations that have consistently kept it on the higher end of the market. With the console approaching its four-year anniversary, one might expect a decrease in price.

Yet, the opposite has occurred, particularly in Japan, where PlayStation recently announced a significant price increase for the third time. This development raises questions about the factors driving these price hikes and what they mean for ex-homebase consumers.

PS5 Price Increase in Japan (again)

In a surprising move, PlayStation recently increased the price of the PS5 Disc Version in Japan by more than 20%. The console now retails for ¥79,980, a steep rise from its previous price of ¥66,980. Similarly, the Digital Edition PS5 has seen a corresponding 20% increase, now priced at ¥72,980, up from ¥59,980. Additionally, the DualSense wireless controller has not been spared, with its price rising by 21%. For Japanese consumers, these new prices translate to approximately $550 for the Disc PS5, $500 for the Digital Edition, and $80 for the DualSense controller in USD.

Why Are PS5 Prices Still High in Japan and some other Country?

Well, once again, it wasn’t caused by poor sales of Concord.

One of the primary reasons behind the continued high pricing of the PS5 is the ongoing global economic instability. The world economy has been impacted by several disruptive factors over the past few years, including supply chain issues, inflation, and geopolitical tensions. These challenges have led to increased production costs for many industries, including electronics. As a result, companies like PlayStation are compelled to adjust their prices to maintain profitability.

Another critical factor contributing to the PS5’s price hikes is the persistent supply chain disruptions. Since the onset of the COVID-19 pandemic, the global supply chain has faced significant challenges, from factory shutdowns to shipping delays. These issues have made it difficult for companies to secure the necessary components for manufacturing. For the PS5, this has meant higher costs for key materials such as semiconductors, which are crucial for the console’s production.

The PS5 has been in high demand since its release, with limited supply only exacerbating the situation. Despite efforts to ramp up production, PlayStation has struggled to keep up with consumer demand. The scarcity of the console has allowed PlayStation to maintain higher prices, as consumers are willing to pay a premium to secure one. This scarcity, coupled with the increased cost of production, has contributed to the PS5’s sustained high price.

Despite the recent price hikes, there is still hope that prices may eventually stabilize or decrease. In the UK, for example, there have been signs of price relief as retailers offer discounts and bundles to attract customers. If this trend continues, it could signal a broader shift towards more affordable pricing. However, given the current economic climate, it is difficult to predict when or if this relief will reach other regions, including Japan.

The Impact of the PS5 Pro Rumors

Adding another layer of complexity to the PS5 pricing situation is the widespread speculation surrounding the imminent release of the PS5 Pro. Rumors suggest that this upgraded version of the console will feature enhanced performance capabilities and potentially new design elements. The introduction of the PS5 Pro could lead to a shift in consumer interest away from the base model, but it remains unclear how this will impact the pricing of both versions.

While the launch of a new console variant often leads to a price drop for the existing model, the current economic climate makes it uncertain whether PlayStation will follow this trend. The company’s decision to raise prices in Japan despite these rumors suggests that they are confident in the continued demand for the original PS5, even as the Pro version looms on the horizon.

Despite the recent price hikes, there is still hope that prices may eventually stabilize or decrease. In the UK, for example, there have been signs of price relief as retailers offer discounts and bundles to attract customers. If this trend continues, it could signal a broader shift towards more affordable pricing. However, given the current economic climate, it is difficult to predict when or if this relief will reach other regions, including Japan.