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Sony hikes PlayStation 5 prices in response to new Trump's tariffs
Last year, Sony had reportedly laid off approximately 900 employees, or 8% of its global PlayStation workforce, as part of a major restructuring.
In an internal email, PlayStation President and CEO Jim Ryan called the decision "extremely difficult but necessary for continued growth and development." The layoffs were a stark signal that the financial pressures facing the tech sector are not limited to consumer costs; they are also impacting the creative and operational heart of the gaming business.
(Image source: Unsplash)
Sony has announced a price increase for its PlayStation 5 consoles, effective today, citing a "challenging economic environment" and new tariffs on imported goods. The move sees the standard PS5 console rise to $549.99, while the Digital Edition will now cost $499.99, and the PS5 Pro will be priced at $749.99 in the U.S.
The company's decision follows a 15% tariff on Japanese imports, announced by the White House on July 31. This U.S. price hike follows similar increases for PlayStation consoles in Europe, Australia, and New Zealand earlier this year. Sony's competitors are also adjusting prices, with Microsoft raising prices for its consoles and accessories, and Nintendo increasing the cost of some Switch 2 accessories.
Last year, Sony had reportedly laid off approximately 900 employees, or 8% of its global PlayStation workforce, as part of a major restructuring.
In an internal email, PlayStation President and CEO Jim Ryan called the decision "extremely difficult but necessary for continued growth and development." The layoffs were a stark signal that the financial pressures facing the tech sector are not limited to consumer costs; they are also impacting the creative and operational heart of the gaming business.
The cuts hit some of Sony's most prestigious and commercially successful studios, including Naughty Dog (creators of The Last of Us), Insomniac Games (Marvel's Spider-Man), and Guerrilla Games (Horizon Zero Dawn). Hermen Hulst, Head of PlayStation Studios, confirmed that the reductions will take place "across our studios, support teams throughout PlayStation and interactive entertainment."
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