Sony to hike PlayStation 5 prices again as memory chip costs surge

The tech industry's race to build out artificial intelligence infrastructure has pushed memory makers to favor higher-margin data-center ⁠chips, tightening supply for consumer devices.

The updated U.S. prices, effective April 2, will put the standard PS5 at $649.99, up from $549.99. The Digital Edition will now cost $599.99 while the high‑end PS5 Pro will cost $899.99.

Prices of the PlayStation Portal remote player will also climb to $249.99 from $199.99.

Similar increases will take effect across Europe and Japan, following what the company described as a "careful evaluation" of rising ‌cost ⁠pressures in global supply chains.

Analysts have said the console price hikes are likely to dampen growth in the video-game market this year. "Fortnite" maker Epic Games also cited sluggish console sales among the ⁠reasons for the cut of 1,000 jobs it announced earlier this week.

In the key October-December holiday quarter, sales of Sony's PlayStation 5 fell 16% from ⁠a year earlier to 8 million units. The console has been on the market for around six years.

Sony last raised ⁠PS5 prices by around $50 in the U.S. in August last year. Microsoft also raised prices of its console, the Xbox, last year.