PS5 Price Hiked Three Times in Six Years: The $399 Console From 2020 Now Costs $599 in 2026
The PlayStation 5 hasn't gotten cheaper since its 2020 launch—it's gone up in price again and again. Sony has confirmed that rising memory costs are the main culprit, a complete reversal of the usual pattern where consoles get cheaper as a generation winds down.
A console is supposed to get cheaper toward the end of its life cycle, but the PlayStation 5 is doing the opposite. When it launched in November 2020, the Digital Edition was priced at $399 and the standard disc version at $499—continuing the $399 tradition set by the PS4 in 2013 and the PS4 Pro in 2016. Six years later, the Digital Edition now costs $599 and the standard version $649, marking increases of $200 and $150 respectively.
The price hikes didn't happen all at once. When Sony launched the PS5 Slim redesign in 2023, the Digital Edition first jumped to $449 while the standard version stayed at $500. That redesign didn't improve performance—it just shrank the internal components and overall console size, while bumping storage from 825GB to 1TB (though Sony later cut the Digital Slim's storage back down to 825GB in late 2025). The real price surge came in August 2025, when both models went up by $50 each; then in April 2026, another $100 was tacked on, bringing prices to today's $649 and $599. The PS5 Pro saw an even steeper climb: launched at $700 in 2024, it rose $50 in August 2025, then shot up to $900 after April 2026.
Even accounting for inflation, these increases don't add up. Adjusted using the U.S. Consumer Price Index, the original $399 Digital Edition would be worth about $514.90 today, and the $499 standard version about $644. In other words, the current $649 price for the standard version roughly tracks inflation, but the Digital Edition's $599 price tag clearly exceeds what inflation alone would justify.
Here's what Sony has to say
During its Q4 2025 investor call, Sony stated plainly that "rising memory prices have increased the PS5's bill of materials (BOM) costs and worsened manufacturing costs." Behind this lies a NAND and RAM shortage rippling through the entire consumer electronics industry—the same crunch that's pushed Apple product prices up by hundreds of dollars. According to the material, massive data center purchases of high-performance memory driven by the AI boom are squeezing the supply available for consumer electronics, while the limited number of fabs capable of producing cutting-edge DRAM and NAND has created a bottleneck. Sony says it has secured enough memory supply to meet production needs through the end of 2026, but expects the shortage to persist into 2027—and it could even affect the next console generation.
Console hardware was never Sony's main profit driver to begin with—the company makes its money from the 30% cut it takes on every PlayStation Store transaction, plus PlayStation Plus subscription revenue (which has also seen its own price hikes). This model—keep the console's entry price low, then profit long-term from software and subscriptions—has worked well across past generations, but only on the assumption that hardware costs decline over time. With the PS5, that assumption has flipped: hardware costs are rising instead of falling, breaking the long-standing pattern of consoles getting cheaper the longer they're on the market.
No concrete timeline for a price drop has been given. The material only suggests that if memory prices ease, retailers might start with promotions and bundle deals before any official price adjustment follows—and with strong demand expected ahead of Grand Theft Auto 6's launch, prices aren't likely to budge anytime soon.
