PS5 Price to Increase in South Korea on October 24 - News
by William D'Angelo , posted on 18 October 2024 / 26,782 Views
Sony Interactive Entertainment announced it is increasing the price of the PlayStation 5 in South Korea for a second time on October 24.
PlayStation says this is "due to the recent fluctuations in the global economic situation, various business difficulties have arisen, and we have been forced to make difficult decisions."
The MSRP for the PS5 with a disc drive is going up to ₩748,000 ($546 USD), while the PS5 Digital Edition will go up to ₩598,000 ($437 USD). The PS5 with a disc drive and 2 DualSense Wireless Controller bundle will now cost ₩820,800 ($599 USD) and the PS5 Digital Edition with two controllers will now cost ₩670,800 ($490 USD). The prices include VAT (value-added tax).
"We will continue to do our best to provide the best gaming experience to our customers and maintain a stable service," said PlayStation. "Thank you for your understanding."
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
More Articles
lol this is the worst generation for PlayStation ever.
I've never known a gen where after 4 years, we pay more for the consoles. Demand for parts will be affecting things for a while I feel.
Still cheaper than in Europe lol
If things keep up like this, one day I might be able to trade my launch ps5 for real state.
Didn't work out well on sales in Japan, let's see how it goes in South Korea.
Greed
We're 4 years in and console prices are going up!? This generation makes no sense.
Seriously this sucks, they need to stop raising prices like wtf.
its all about the profit margin. gaming profits up 10%. i guess 6 billion profit is not enough. Gamers we need more $$$$$$$
Force, in order to sustain incredible profits, that is.
It's kind of telling that with how Concord mega flopped, as soon as that happened, Sony just starts cranking up prices, pulling older games of theirs off Steam to replace with PSN enforced ones and raised prices there as well.
Feels like they're trying to have all their sectors raise pricing to slowly make up for that colossal loss. They'll also be re-releasing Concord as F2P with MT's to make up for whatever they can.
Either way, I can tell there's a need to quickly make up for losses in multiple areas.
Could you guys imagine if the PS5 become a store of value?
Is the era of cheaper consoles with time over? Can't believe that the lowest price for a system was the launch. It is a strange new world. Also the first system I was an early buyer of.
lol, guess they didn't learn their lesson in Japan
The times they are-a-chaaaangin'
Are people buying up equipment on mass to mine crypto again or something?
Good guy Sony strikes again
Steam, Nintendo, Sony, MS... no one is a good guy lol
Have they had the audacity to raise prices like Sony though? Maybe they have and I've simply forgotten, but Sony's definitely managed to stick out recently.
Yes, they do and have. MS raised prices of Xbox in Japan twice, and up in most other big countries outside of the US in 2023. Infact they even did it after says they "had no plans to" in 2022. Nintendo haven't but at the same time, the release price of the Switch was £280, it's now on Amazon for £260. Not exactly the kind of price decrease we'd expect from a 7 year old console. In nearly all previous gens before 8th by 5-6 years most consoles had halved in RRP.
But you know, Sony bad. etc.
Fair enough. That said, I've owned almost exclusively Sony's consoles and been eyeing the PS5, and I've been increasingly annoyed with Sony for a long time now, and increasingly so. Maybe I would be frustrated with the others as well, but for me personally, Sony has been the one that's hurt. And with Nintendo, at least they haven't increased the price (and to be clear, I'm not a fan of Nintendo's pricing in general either).
I can get and understand that. There are a lot of things Sony takes shtick for what other companies do not (not saying they don't make idiotic decisions, last year is full of them) but as market leaders, it's how it usually works and maybe they should lead by example.
Alas, hard to do sometimes, when said things are lowering the cost of producing your main revenue stream.
I'm pretty much half and half right now on old games I want to beat on NSO and my actual Switch games. I think I have like 16-18 games on NSO I want to play through (currently on Paper Mario) and like 19-20 Switch games I still want to play through and beat. Though a few of the Switch titles are actually really old ports as well. Which is why I personally wouldn't mind if next gen didn't start for another 2-3 years haha. Backlog is to dang big without a whole new generation starting soon.
that's why i looove NSO Expansion Pack. Between all the NSO games I want to play through and all the Switch games I still need to play through (majority of which are indies I got at like 50%+ discounts), I can just pay $50 a year and be good to go for years to come with tons of games to play I've never played or never beat before. Though I'm guessing once a few big juicy Switch 2 games comes out I might be enticed into getting the new system. But at least when that happens I'll be paying several hundred less than if it was an PS5!
There is a big difference though between not doing any discounts because of absolutely zero business reason to do so (although admittedly with Switch sales slowing the past year or two they do have a reason to cut prices now - and they should, I think at this point it's silly that they haven't dropped all the models by $50 as sales slow and next gen is about to start) and actually raising the price on a several year old system as Sony has done. So yes, this is "Sony bad", and not at all comparable to Nintendo keeping the price of the Switch same as at launch which for most of the time (the first like 6 years) was because demand was exceeding supply.
And I'm glad to see PS5 sales crater in Japan because that means the market is reacting appropriately to Sony pulling this crap. If sales crater in Korea too, and if the the PS5 Pro does poorly because of its absurd price, Sony might eventually get the message that they are being very anti-consumer and their fans won't stand for it.
Sure but fans already have the console, it's casual market they are excluding by pricing entry of casual gamers out. My point was to highlight that yes, Sony bad for doing stuff like but they aren't the only company doing these things.
I do agree, there is a difference but people who were waiting for the £280 7 years ago to drop in price so they could afford a console are still waiting, considering in that time, costs of everything have gone up. As HopeMills said above, no one is really a good guy here.
All we have to do as fans of gamers is deal with it and the easiest way of doing that is buying used again. ;-)
Good, bad, I'm the guy with the price hikes
Wasn't the FTC trying to block the MS / ABK deal because Sony said MS will raise the prices... Where is the FTC now? The market leader is continually raising prices and they are not batting an eye but if Xbox did this, BLOCK ALL MERGES. This Industry is cooked.
Mergers are different from price gouging admittedly. All corporations gouge when they know they can get away with it, not all corporations cannibalize other mega corporations (and when they do, they may be met with an anti-trust lawsuit).
I understand they all price gouge, but when the market leader used that as a reason to block a merger when they are literally doing the very thing, they threaten the ABK Merger with has to come across as anti-trust. The bigger question on my mind is why isn't the FTC or CMA looking at this and asking the questions?
Sony is acting in an anti-consumer manner not as a consequence of anti-competitive practices, but b/c Microsoft gaming has self-imploded under poor management. The FTC can’t really do much here.
MS gaming is possibly making more money than ever before so not sure what their management has to do with this. We are talking about one of the market leaders continuing raising prices, which will also open the flood gates on the entire industry, which is bad the the consumers.
