Sony announced a 20% price increase for its PlayStation 5 (PS5) console in Japan, citing global economic fluctuations and a challenging external environment.
Starting September 2, the PS5 will cost 79,980 yen ($551) for the standard version and 72,980 yen for the digital version without a disk drive.
This price hike comes as Sony aims to sell 18 million PS5 consoles globally this financial year, a reduction from the 20.8 million units sold in the same period last year.
The company attributed the price increase to the broader economic pressures affecting its operations.