Sony PS5 prices rise globally, Microsoft says its Xbox Series X|S won’t get pricey

Sony PS5 prices have been hiked across the globe citing component price hikes. Microsoft meanwhile has other ideas.

Sony has hiked the prices of the PlayStation 5 console across the world.  (HT Tech)

Bad news for gamers! If you have been planning to get the PlayStation 5, there's bad news for you. Sony has recently announced its plans to hike prices of the PlayStation 5 console in select global markets that include Europe, Japan and Britain. The price hike is due to the rising interest rates in these countries. However, in the US market, Sony keeps the prices unchanged due to rival Microsoft not making any such moves. Unlike the PS5, the Xbox Series X/S consoles will not see any price hikes across the world.

“We're seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries,” Sony Interactive Entertainment Chief Executive Jim Ryan wrote in a blog post. Sony currently says that it is raising the price of the disk drive-equipped variant of the PlayStation 5 to 549.99 euros ($550.81). The price was previously set at 499.99 euros in Europe. Sony is yet to announce any such price hikes in India.

PS5 gets pricey while Xbox Series X|S stays the same

Sony has currently announced price hikes in the markets of Europe, the UK, the Middle East, Africa, Asia, Latin America, and Canada. However, Microsoft has confirmed not changing the price anytime soon in these markets. Hence, in the US market, the Xbox Series S will continue have the $299 price tag whereas the Xbox Series X will have a $499 price tag.

With this change in price, the Xbox Series X and Series S consoles will now offer better value than ever. Unlike the PlayStation, Microsoft offers its more affordable and accessible Xbox Game Pass services, allowing players to try out the latest games at a monthly subscription price. Sony, meanwhile, has been accused of asking higher prices for its older PlayStation titles lately.

In India though, Microsoft sells the Xbox Series S as the cheapest current-gen console. The Series S is available on Flipkart at a price of Rs. 33,250, which makes it highly affordable. The Xbox Series X, however, isn't easily available in India. Sony continues holding limited unit sales of the PS5 in India as well.