UPDATE: |Sony announces PlayStation 5 price to rise due to ‘challenging economic environment’ News

It comes after the global stock market has taken a hit following new tariffs introduced by Donald Trump

Sony has confirmed that the price of certain PlayStation 5 consoles are set to rise due to a “challenging economic environment”.

The technology giant said that the change will come into effect from Monday, April 14, impacting the PS5 Digital Edition which does not include a disc drive. In the UK, Sony confirmed that the console will rise by £40 from £390 to £430.

Announcing the price hikes, Sony said that the “tough decision” has been made because of a “backdrop of a challenging economic environment, including high inflation and fluctuating exchange rates”.

The news of the price increases comes just days after Donald Trump imposed heightened tariffs on nations around the world which has caused huge disruption to global manufacturing supply chains.

Since the initial tariff increases, Mr Trump has announced a temporary pause on some tariffs, and over the weekend the confirmation that imports of electronics such as smartphones and laptops would get a temporary reprieve until the Trump administration decides on a specific tariff approach to the semiconductor sector has added to the confusion for exporters.

As part of its announcement, Sony also confirmed some PS5 price rises for Europe, Australia and New Zealand. In Europe, the price of the PS5 Digital Edition is rising from 449 euros to 499 euros.

Sony said the price in Europe and the UK for the standard PlayStation 5, which was released in 2020 and comes with a Blu-ray disc drive, will remain unchanged, as will the price for the PS5 Pro version, which was released last year. The standard PS5 costs £479.99 and the Pro version costs £699.99.

The first PlayStation was released in Japan in 1994, launching in the UK the following year for £299. In 2000 its successor, the PlayStation 2, was launched in the UK also for £299.