Listen up, gamers! PlayStation 5 to get more expensive, grab the console before it’s late

This is not a drill. We repeat – this is not a drill!

For gamers who are planning to update their consoles, the Sony PlayStation 5 (PS5) prices are likely to up soon in India.

According to recent reports, the Japanese tech giant on Thursday announced a PS5 price hike in select markets, and India is one of them.

The tech company hasn’t revealed the Indian prices yet, but it is believed that PS5 will become approximately 10 per cent costlier in the next few days.

The highly-acclaimed gaming console was launched in India with a price tag of Rs 39,990 for the digital edition and Rs 49,990 for the Blu-ray version. The price hike will hit both versions.

The new recommended retail price will hit select markets across Europe, the Middle East, Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada. However, the price increase will not hit the United States.

Sharing the updates in a blogpost, Sony Interactive Entertainment (SIE) President and CEO Jim Ryan blamed the global economic environment and high inflation rates for this move.

“The global economic environment is a challenge that many of you around the world are no doubt experiencing. We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries. Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price of PlayStation 5. While this price increase is a necessity given the current global economic environment and its impact on SIE’s business, our top priority continues to be improving the PS5 supply situation so that as many players as possible can experience everything that PS5 offers and what’s still to come,” the statement read.

While Europe and Japan will see a jump of up to 10% in prices, the UK will get a 6% hike.

In Europe, PS5 with Ultra HD Blu-ray disc drive will now be available for 549.99 euros ($549.84) and the PS5 Digital Edition at 449.99 euros ($449.86). In China, PS5 with Ultra HD Blu-ray disc drive will be available for 4,299 yuan ($627.73) and PS5 Digital Edition for 3,499 yuan ($510.91).