Sony PS5 Pro Price Shock Hits Japan

TOKYO: The gaming world is buzzing with the recent announcement from Sony Group regarding the PlayStation 5 Pro. This new console, which is an upgraded version of the original PlayStation 5 that launched in 2020, is set to retail for a staggering ¥119,980 (approximately US$847) in Japan. This price point has raised eyebrows and sparked discussions among gamers and consumers alike, especially since it marks the first time a PlayStation console has crossed the ¥100,000 threshold.

To put this into perspective, the original PlayStation 5 was priced at ¥43,978 (US$310) at launch. The new price is nearly three times higher than what gamers paid for the PS4 Pro back in November 2016. Unfortunately, salaries in Japan have not seen a similar increase, leaving many young consumers feeling the pinch. The average Japanese consumer in their 20s may find themselves needing to spend half of their monthly take-home pay just to own this latest gaming console.

One of the primary reasons for this price hike is the weak yen, which has significantly impacted the cost of imported goods. Sony's forecasts for this year assume a rate of ¥148 to the dollar, which has contributed to the increased prices. Gamers are not the only ones feeling the heat; consumers around the globe are also expressing their dissatisfaction with the rising costs of gaming consoles. In the United States, the PS5 Pro is priced at US$699.99, while in the UK and Europe, it is priced at £699.99 (US$923) and €799.99 (US$890), respectively.

Interestingly, Japan has been gradually adjusting to the idea of higher prices, but this change has been slow and inconsistent. For instance, the cost of a movie ticket has only risen by 11 percent over the past 21 years. In contrast, other electronics, like high-end televisions, continue to become cheaper and more advanced each year. This inconsistency in pricing has left many consumers confused and frustrated.

It is important to note that Sony is not alone in this pricing dilemma. Just a day before the PS5 Pro announcement, Apple revealed its new iPhones, which also came with a hefty price tag. While Apple has maintained a consistent price of US$999 for its iPhone Pro over the past seven years, the price in Japan has surged by 40 percent due to annual currency adjustments. This situation highlights the broader issue of how currency fluctuations can affect consumer prices.

For many in Japan, the PlayStation brand is synonymous with the country itself. However, it has become increasingly clear that Sony's home market is not at the forefront of the company's priorities. Since 2020, the standard PS5 has experienced three price hikes in Japan, a stark contrast to the traditional expectation of price reductions as products age and demand decreases. The recent announcement of the PS5 Pro was made in a video that was entirely in English, with Japanese subtitles added later, further emphasizing the disconnect between Sony and its home audience.

The launch of the PlayStation 5 Pro at such a high price point raises important questions about the future of gaming in Japan. As consumers grapple with rising costs and stagnant wages, it remains to be seen how this will impact the gaming industry and the loyalty of Japanese gamers to a brand that has long been a source of national pride. The situation serves as a reminder that while technology continues to advance, the economic realities faced by consumers must also be taken into account.