Nintendo has now reacted to the PS5 price increase

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.

ps5 price increase
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. 

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.

xbox consoles
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.

The statement also includes a quote from Shuntaro Furukawa given during an AGM conference earlier this year, reconfirming Nintendo’s stance.

nintendo ps5 price increase
Credit: Nintendo

The statement provided to Eurogamer reads:

As our president, Mr Furukawa stated at the 82nd Annual General Meeting of Shareholders in June:

‘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.

playstation logo
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.

homer simpson gif
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.

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Featured Image Credit: Nintendo/Source: Eurogamer