Sony will hike PS5 prices Thursday as a result of Trump's trade war
Why it matters: The move reflects companies starting to buckle under pressure from President Trump 's tariffs, raising prices or signaling that increases are coming.
What they're saying: "Similar to many global businesses, we continue to navigate a challenging economic environment," Sony said in a blog post.
"As a result, we've made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the U.S. starting on August 21."
The recommended retail prices for PlayStation 5 accessories "remain unchanged," however.
State of play: The new prices in the U.S. range from $550 to $750.
PlayStation 5 – $549.99
PlayStation 5 Digital Edition – $499.99
PlayStation 5 Pro – $749.99
Catch up quick: The price hike wasn't totally unexpected.
Sony said in May that it was considering price hikes to cover the Trump administration's tariffs.
In April, Sony raised the price of PS5s in the UK, Europe, Australia, and New Zealand by 10 to 15%.
Sony rival Microsoft raised its U.S. Xbox prices in May by $80 to $100.
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Los Angeles Times
12 minutes ago
- Los Angeles Times
Christmas decorations come with a higher price tag this holiday season, thanks to tariffs.
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Los Angeles Times
12 minutes ago
- Los Angeles Times
Appeals court throws out massive civil fraud penalty against President Trump
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12 minutes ago
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