Sony Group Announces PS5 Price Increase in EMEA, APAC, and Latin America

Jim Ryan, CEO of Sony Group Corporation (NYSE:SONY) announced that recommended retail pricing for PS5 will increase immediately in EMEA, APAC, and Latin America markets due to challenging economic conditions.

In key markets such as the EU, Japan, and China, PS5 prices will rise 10%-13%. Prices in the US will stay unchanged.

Analysts at Oppenheimer raised their G&NS segment sales estimates for 2022 to reflect the price increases and higher expectations for accessory sales following the reveal of the new PS5 controller, DualSense Edge.

Also, on August 29, Hermen Hulst, Head of PlayStation Studios, announced the acquisition of Savage Game Studios. Savage will join a newly created PlayStation Studios Mobile Division and is currently working on a new unannounced, AAA, mobile live service action game.