Sony Raises PlayStation 5 Price in Japan

Sony Interactive Entertainment has announced a price increase for the PlayStation 5 console in Japan, effective September 2nd. The suggested retail price will now be 79,980 yen, an increase of 19% from the previous price.

This unexpected move comes as the PS5 approaches its fourth anniversary and amidst declining unit sales in the recent quarter. Despite the sales drop, Sony’s gaming division has seen a rise in profit and revenue due to ongoing purchases of games and services by existing PS5 owners.

External Factors and Future Expectations

The company attributed the price hike to a challenging external environment, including fluctuations in the global economy. Investors are eagerly anticipating a refreshed version of the PS5 to revitalize sales. Analysts have previously predicted the release of a “Pro” version of the console this year.

Settlement of Zee-Sony Merger Dispute

In a separate development, Zee Entertainment and Sony announced the settlement of a legal dispute related to their failed $10 billion merger of their respective Indian units. This resolution has positively impacted Sony’s stock price, which closed 2.8% higher in Tokyo on Tuesday.