Sony Announces 20% Price Increase for PlayStation 5 in Japan

Sony is boosting the PlayStation 5's price in Japan by 20%. The updated prices will be 79,980 yen for the normal edition and 72,980 yen for the disc drive-free version. The decision is linked to the tough global economic conditions.

Credit: REUTERS

The company said that the price change was necessary because of tough external conditions, such as changes in the world economy. A blog post from the entertainment and technology conglomerate said that the console will cost 79,980 yen (US$551) starting September 2. A version without a disc drive will be offered for 72,980 yen.

This fiscal year, Sony wants to sell 18 million PS5 systems around the world. This objective is lower than the previous year's total of 20.8 million copies sold during the same period.

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• Sony is increasing the price of the PlayStation 5 in Japan by 20%.

• The new prices will be 79,980 yen for the standard version and 72,980 yen for the disk drive-free version.

• The decision is attributed to challenging global economic conditions.

Source: REUTERS