Sony has raised the price of the PS5 to $649.99 – a $100 jump from its previous retail price – with the increase taking effect from April 2, 2026, according to a report shared by Geoff Keighley on X. It’s the second time Sony has hiked the PS5’s price since launch, and it’s a big one.
The standard console isn’t alone in the increase. The PS5 Pro now sits at an eye-watering $899.99 – putting Sony’s premium hardware firmly in territory that would’ve been unthinkable at the start of this console generation. Sony has pointed to the “global economic landscape” as the driving force behind the decision, which is corporate-speak that covers everything from supply chain pressure to the sweeping tariff changes rippling across the US market in 2026. Ouch. If you’ve been keeping tabs on where PlayStation is headed next, our PS6 hub breaks down everything confirmed so far – and this pricing move does add some interesting context to Sony’s longer-term hardware strategy.
For players, this is an uncomfortable moment. A $649 entry point for a console that launched at $499 is a tough sell – especially when Nintendo’s Switch 2 just topped US hardware sales in March, outselling PS5 in both unit and dollar terms. Sony is clearly betting that its exclusive lineup and ecosystem loyalty will hold the line, but a $100 increase hands the competition a very easy talking point. It’s also worth noting that Xbox is navigating its own turbulent chapter right now – as we covered when looking at Xbox’s new leadership and their plan to steady the brand – so the whole console landscape feels like it’s in flux heading into the back half of the decade.
Are you still picking up a PS5 at $649, or has this pushed you toward other platforms? Sound off in the comments below, and keep your eyes on GameLuster for more breaking gaming news and PlayStation coverage.
