Game News PS5: Will Sony increase the price of its console?
Published on 07/30/2022 at 15:04
Sony has just released its financial results following the first quarter of 2022 and shared with us the latest figures for the PS5. The console, still so difficult to obtain, still achieves honorable scores, but unfortunately might see its price increase soon. Explanations.
A market under pressure
The first quarter of 2022 ended on June 30. Since then, large companies have begun to share their financial results. This is the case of Sony, which is in good health despite a signifcant drop in profits, particularly in the games and services section.
On the one hand, the firm is experiencing a significant drop in the sale of its games. Nevertheless, it is clear that the PS5 is still selling very well despite the limited available stocks. Thus, the console sold 2.4 million copies in the first quarter of 2022, for a total of 21.7 million machines distributed worldwide since its release. Very good figures therefore, especially given the situation in which the market currently finds itself.
Because yes, the components crisis is still relevant and inflation is impacting all sectors, even the tech sector. While Sony has increased the price of several of its products in Japan, the PS5 may experience the same fate soon.
The price of the PS5 destined to increase?
After sharing its result, Sony was asked regarding the price of its latest product. As the price of most Sony products have increased, the manufacturer was asked if he was considering an increase in the selling price of the PS5. A clear question, for an ultimately rather vague answer. The firm’s chief financial officer, Hiroki Totoki, simply mightn’t answer the question.
Regarding a possible increase in the price of the PS5, I cannot, at this time, share any specific information regarding a change.
Sony therefore does not declare anything for the moment. However, the latest forecasts seem to lean towards a “logical” increase in the price of video game equipment, for each of the manufacturers. Recently, Reality Labs announced a price increase of almost 50 euros for the Meta Quest 2 VR headset. Noticeable changes, which should gradually appear within the industry. The fault, we owe it once more and once more to the lack of components and the increase in the price of semiconductors. This was highlighted last May by analyst Glen O’Donnell to CNBC.
Microchip makers are facing their own resource challenges, compounded by the war in Ukraine…and demand remains as high as ever while resource challenges remain. the price of energy, especially that of electricity, is also very high. Obviously, microchips require a huge source of electricity.
As a result, the price of tech products keeps going up in the current state of things. Still according to Glen O’Donnell, the rise in prices should be around 10%, or even 15% during the year.Logically, if the situation in which the market remains at the moment does not experience changes, these prices will be the new standards. So maybe it’s time to invest in a console.