Sony’s PlayStation Gets $50 US Price Hike, Joining Rivals

Sony Group Corp. will raise the price of its popular PlayStation 5 video-game console to $550 from $500 in the US, following rival console-makers Microsoft Corp. and Nintendo Co. in price hikes after tariffs increased the cost of imports.

“Similar to many global businesses, we continue to navigate a challenging economic environment,” Sony wrote Wednesday 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 US starting on August 21.”