Sony Refuses to Comment on Potential PS5 Price Increase

"In light of price revisions at Sony"

Sony PS5 Price Increases PlayStation
Sony Refuses to Comment on Potential PS5 Price Increase

Sony has refused to comment on potential PS5 price increases following the company raising the Japanese prices of several of its electronic products ranging from cameras and Blu-Ray players to speakers and headphones. The price revisions were made in light of the ongoing semiconductor shortage brought on by the global pandemic.

During its recent first quarter earnings call, Sony was asked whether it would consider increasing the price of PS5s in light of the semiconductor shortages. “About a potential price increase for the PS5, at this point in time there is nothing specific I can share with you about prices,” said Sony CFO Hiroki Totoki.

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Analysts previously forecasted that semiconductors would become more expensive – seeing a 10-15% increase in the year ahead – as a result of chip manufacturers increasing its prices, leading to companies (like Sony) buying them and passing that increased cost to consumers.

While the price increase has only impacted Sony’s various electronics products besides PS5, it’s entirely possible that this ongoing semiconductor shortage could lead to the console hardware price being increased as well in the future.

In a bit of a doom and gloom forecast, Forrester analyst Glenn O’Donnell told CNBC back in May that factors such as the Ukraine war in addition to the pandemic could lead to manufacturers increasing prices on PCs, cars, toys, electronics, appliances and many other products that rely on the resources.

That said, we’ll have to keep a close eye on this developing story. PS5s are already in increasingly high demand worldwide. Sony has been transparent about its struggles to meet those demands as a result of semiconductor shortages, which led to slower sales this generation then previous console iterations. In the worst case scenario, consumers may need to brace for PS5 price increases should Sony make the call.

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Source: Video Games Chronicle

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