Sony (NYSE:SONY) stock is a hot topic on Thursday after the company increased the price of its PlayStation 5 (PS5) gaming console.
Let’s go over everything you need to know about these price hikes.
- Sony is increasing the price of the PS5 in several international markets.
- The video game company says this change is due to rising inflation and other macroeconomic factors.
- However, gamers in the U.S. don’t have to worry as it isn’t included in the price increases.
- Unfortunately for other gamers, these new prices mean they’ll pay more for the latest PlayStation gaming machine.
- That includes the price increase to 549.99 euros for the disc version and 449.99 euros for the digital version in Europe.
- Similar price increases are in effect immediately for the U.K., China, Australia, Mexico, Canada, and Europe.
- Japan will also see the price of the PS5 increase to 60,478 yen and 49,478 yen for the disc and digital versions.
- The only difference is that this won’t go into effect until Sept. 15, 2022. That means Japanese gamers still have time to get the console at the old price.
Jim Ryan, president and CEO of Sony Interactive Entertainment, said the following in a blog post:
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.
SONY stock is up almost 1% as of Thursday morning.
There’s more stock market news traders will want to know about below!
InvestorPlace is home to all of the latest stock news for Thursday! Among that is what has shares of Dollar General (NYSE:DG) and Peloton (NASDAQ:PTON) stock moving, as well as the biggest pre-market stock movers from this morning. You can find all of that news at the following links!
More Thursday Stock Market News
- What Is Going on With Dollar General (DG) Stock Today?
- Why Is Peloton (PTON) Stock Plunging Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.