Sony declined to confirm or deny a price increase for the PlayStation 5. With chip shortages, a higher price tag for the console could be inevitable.
With prices increasing across the board, the price of a PlayStation 5 could soon go up soon. Although Sony hasn’t announced plans to raise the PS5’s price, with the current chip shortage, the PS5’s scarcity, and costs increasing for all sorts of products, a higher price tag for the console seems inevitable. While a price increase would be disappointing, it could make the PS5 easier to acquire.
Since its release, the PS5 has been difficult to track down. The console’s scarcity has been blamed on a shortage of chips, that have been described as the “brain” of an electronic component. Producing these tiny chips, which contain billions of transistors, is a complicated process that requires time and expertise. The PS5 has been out for years, but because of this continued shortage, Sony hasn’t met its PS5 production targets.
When asked about whether or not the console’s price would increase, Sony’s executive deputy president and chief financial officer, Hiroki Totoki said there was nothing specific he could share about the PS5’s future (as reported by VGC). However, with costs increasing for a variety of electronic products and the price of the console’s GPU likely to increase, a higher price tag is certainly within the realm of possibility. While this possibility is troubling to many, it’s possible that paying more for a PS5 could reduce (or at least stabilize) the cost of PS5 games and accessories.
The PS5’s Base Price Has Always Been Too Cheap
To those lucky enough to track down a console, a PS5 (with a disk drive) costs $499.99. However, because major retailers rarely have the console in stock, and often limit PS5 restocks to one-day events, many players purchase the console from resellers. Unless one has the patience, know-how, and time to acquire a PS5 at base cost, buying a console from a reseller costs anywhere from $600 – $1000. If Sony raises the cost of PS5s, there’s a possibility that fewer consoles will be bought by resellers, potentially making the PS5 easier to acquire (for those willing to pay the increased cost). With the risk of scammers, the stress of eBay auctions, and PS5 scalpers often charging outrageous prices, most consumers prefer to purchase consoles directly from retailers.
With the console’s specs and performance, $499.99 is an incredibly fair price. The PlayStation 5’s custom AMD Navi GPU is equivalent in performance to GPUs with a base price of $399.99. Although Sony is able to access cheaper components than consumers, it’s likely that Sony’s primary source of profit comes from PS5 games, not the console itself. If the cost to produce the console increases, consumers will pay the difference regardless. However, without comment from Sony, the PlayStation 5‘s future remains unknown.
Source: VGC
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