PlayStation DualSense controller and PlayStation 5 console.
Jakub Bolzycki | Noor Photos | Getty Images
sony On Tuesday, the company announced a price increase for its flagship PlayStation 5 console, even as the device enters its fourth year on the market.
The Japanese gaming giant said the PS5's suggested retail price is now 79,980 yen ($553), a 19% increase from the previous price. The interest rate hike will take effect on September 2.
Sony cited the challenging external environment, including global economic fluctuations, as the reason for the price increase.