Sony to raise PlayStation 5 prices amid surge in memory chip costs

Price Increases - Sony Group is raising global prices of its PlayStation 5 consoles, with a $100 increase in the U.S., marking its second price hike in less than a year due to rising costs of key components like memory chips [1][10] - The updated U.S. prices effective April 2 will set the standard PS5 at $649.99, the Digital Edition at $599.99, and the high-end PS5 Pro at $899.99 [2] - Prices of the PlayStation Portal remote player will also increase to $249.99 from $199.99, with similar increases expected in Europe and Japan [5] Market Impact - Analysts suggest that the console price hikes are likely to dampen growth in the video-game market this year, with sluggish console sales contributing to job cuts at Epic Games [8] - In the key October-December holiday quarter, sales of Sony's PlayStation 5 fell 16% from a year earlier to 8 million units, indicating a potential decline in market demand [9]