Nintendo has now reacted to the PS5 price increase Skip to content Click here to check out the GameByte Shop great games, consoles and more! Sony stands alone. Nintendo has now reacted to the PS5 price increase 30 August 2022 by Richard Breslin Nintendo has now reacted to the PS5 price increase that was recently enforced by Sony in most territories other than the United States. SIE president and CEO Jim Ryan announced that the PS5 console price will increase in response to the current economic climate. For the most part, the PS5 disc and digital edition consoles increased by 20% on its RRP. Credit: Sony Fans aren t happy with the PS5 price increase Naturally, this news didn’t sit well with fans, especially coming from a multi-billion-dollar company during a time in which the cost of living is ever on the rise. ADVERT ADVERT The reason for the price increase is due to “high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries.” In response to the price increase and to ease the concerns, Microsoft told Windows Central: “We are constantly evaluating our business to offer our fans great gaming options. Our Xbox Series S suggested retail price remains at $299 (£250, €300) the Xbox Series X is $499 (£450, €500),” said the Microsoft rep. Credit: Microsoft Nintendo reiterates its stance However, in a statement provided to Eurogamer, Nintendo has now reiterated its stance of having “no plans to increase the trade price of its hardware.”ADVERT ADVERT The statement also includes a quote from Shuntaro Furukawa given during an AGM conference earlier this year, reconfirming Nintendo’s stance. Credit: Nintendo The statement provided to Eurogamer reads: “As our president, Mr Furukawa stated at the 82nd Annual General Meeting of Shareholders in June:ADVERT ADVERT “‘While we cannot comment on pricing strategies, we currently do not have any plans to change the price of our hardware due to inflation or increased procurement costs in each country. We will determine our future pricing strategies through careful and continued deliberations.‘ “While the final price to consumers is always determined by retailers, as Mr Furukawa stated, Nintendo has no plans to increase the trade price of its hardware.” Obviously, neither Microsoft nor Nintendo have it set in stone that its console prices will never increase. However, I would imagine that something drastic would have to happen to see such inflation.ADVERT ADVERT Credit: Sony Will Sony backtrack on the PS5 price increase It’s not a good look for Sony with two of its biggest competitors distancing itself from the recent PS5 price increase. It kind of reminds me of that Homer Simpson gif of him taking a step back into the bushes. It will be interesting to see if Sony backtracks on its PS5 price increase. However, I wouldn’t hold your breath. Credit: 20th Television Animation What are your thoughts on both Nintendo and Microsoft’s stances following the PS5 price increase? Let us know across our social media channels.ADVERT ADVERT While you’re here, be sure to check out our video of the week. 10 of the scariest horror games of all time are shown off. What is your favourite horror game? Featured Image Credit: Nintendo/Source: Eurogamer TweetShareSharePin Follow us on @GameByte @gamebyte GameByte GameByte GameByte Noobs Play @GameByte @gamebyte GameByte GameByte GameByte Noobs Play External Links Policy GameByte Staff About GameByte Advertise with us Careers Ambassador Program Contact Terms and Conditions Privacy Policy Cookie Policy Manage Cookies Preferences Submit Your Content FragHero Sporf 9 to 5 Life Social Chain Social Chain Agency