Sony will be raising the retail prices of the PlayStation 5 (PS5) in Southeast Asian markets, including the Philippines, the company announced on its blog.
The increase is due to the challenges brought about by the "global economic environment" and "higher global inflation rates," Sony said.
"Based on these challenging economic conditions, [Sony Interactive Entertainment] has made the difficult decision to increase the recommended retail price (RRP) of PlayStation 5 in select markets across Europe, Middle East, Africa, Asia-Pacific, Latin America, as well as Canada," it added, noting there'll be no price increase in the United States.
Prices for the PS5 with Ultra HD Blu-ray disc drive in the Philippines are now up to P30,790—almost P3,000 more than its P27,990 launch price in 2020.
Sony said that this price increase is a "necessity" given the global economic environment and that their priority is to "improve the PS5 supply situation." Stocks for the console are low due to the supply challenges presented by the COVID-19 pandemic.
On e-commerce sites of gaming stores DataBlitz, Game One, and GameXtreme, the PS5 is either sold out or only available for pre-order.