Daily news, dev blogs, and stories from Game Developer straight to your inbox
Sony offers a vague answer on a PlayStation 5 price increase
Sony didn't say "no" to a costlier PlayStation 5, but they also didn't say "yes." Time will tell.
July 29, 2022
2 Min Read
The question of Sony increasing the price of its PlayStation came up during Sony's first quarter earnings call, and the answer from chief financial officer Hiroki Totoki was noticeably vague on the matter.
“About a potential price increase for the PS5, at this point in time there is nothing specific I can share with you about prices," said Totoki.
It's a question worth asking when you look at the rest of Sony's business. In April, Sony raised the Japanese prices of several of its consumer electronic devices, including Blu-Ray players and home theater systems. The increase in price was made due to several external issues, including the continual shortage of semiconductors that is affecting the production of games consoles for all console makers, including Sony.
During its earnings call, Sony revealed the PS5 has sold 21.7 million units to date since its 2020 release. Though numbers regarding playtime and first-party software sales have had a slight decline during the quarter, Sony still expects the PS5 to sell 18 million units by the end of the year.
You're gonna carry that cost
The possibility of a PS5 price increase comes days following Meta announcing its plans to increase the price of both models of its Quest 2 VR by $100. Meta's argument was that the price hike would benefit VR, but reactions to this have been skeptical on that front.
Totoki added that Sony was unable to ship enough PS5s to meet consumer demand during Q1, calling the supply issues and lack of available parts "the two big constraints we were imposed with." Though he's hopeful that improvements to manufacturing will come with the availability of components, he was less sure about the supply chain.
“For supply chain disruption, we actually took quite a hit in the first quarter," Totoki admitted. "In the first quarter, hardware volume for sales were quite smaller than we expected at the beginning of the year, so supply chain disruption is something that we hope will be completely addressed.”
Analysts have recently predicted that due to the semiconductor shortage, which is believed to continue through 2022, chip makers will increase their prices, and manufacturers could in turn pass on that cost to products bought by consumers, such as game consoles and cars.
About the Author(s)
Contributing Editor, GameDeveloper.com
A Kansas City, MO native, Justin Carter has written for numerous sites including IGN, Polygon, and SyFy Wire. In addition to Game Developer, his writing can be found at io9 over on Gizmodo. Don't ask him about how much gum he's had, because the answer will be more than he's willing to admit.
You May Also Like
Exploring the 2024 State of the Game Industry report - Game Developer Podcast ep. 39Feb 2, 2024
Phantom inspiration and the ethical auteur with Xalavier Nelson Jr.Dec 8, 2023
Designing Killer Queen: from playground experiment to modern arcade sensationOct 18, 2023
Rod Humble and King Choi illustrate the ambition of Life By YouSep 22, 2023
Get daily news, dev blogs, and stories from Game Developer straight to your inbox
Subscribe to Game Developer Newsletters to stay caught up with the latest news, design insights, marketing tips, and more