PlayStation prices rise as US tariffs bite

Sharjah 24 – AFP: Sony on Wednesday said it is bumping up the price of PlayStation 5 video game consoles by $50 in the United States due to a "challenging economic environment."

Tariffs imposed by President Donald Trump hike the cost of goods brought into the US, leaving companies like Japan's Sony to decide whether to pass that on to consumers.

"Similar to many global businesses, we continue to navigate a challenging economic environment," Sony Interactive Entertainment vice president of global marketing Isabelle Tomatis said in a post.

After initially being threatened with a 25 percent hike, Japan negotiated a 15 percent tariff with the Trump administration.

"As a result, we've made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the US."

The new price for PS5 will be $550, with a "Digital Edition" priced at $500 and a Pro version for $750, according to Tomatis.

In May, Sony warned it was considering tweaking prices in the US, estimating that tariffs could wind up costing the company about $680 million in the fiscal year.