Sony raises price of PlayStation 5 in Japan by 19%

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Sony raises price of PlayStation 5 in Japan by 19%

The PlayStation DualSense controller and PlayStation 5 console.

Jakub Porzycki | Nurphoto | Getty Images

Sony on Tuesday announced a price hike for its flagship PlayStation 5 console, even as the device enters its fourth year on the market.

The ********* gaming giant said its suggested retail price for the PS5 is now 79,980 yen ($553), up 19% from the previous price. The hike will take effect from Sept. 2.

Sony cited a challenging external environment, including fluctuations in the global economy, as the reason for the price increase.

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