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Investing.com -- Sony (NYSE:SONY) has increased the price of its flagship PlayStation 5 console in Europe, Australia, and New Zealand, attributing the move to a "challenging economic environment."
On Sunday, Sony announced in a blog post that the PlayStation 5 Digital Edition will now be sold for 499.99 euros ($569.9) in Europe, up from its previous price of 449.99 euros.
In the U.K., the recommended retail price for the console has been raised to £429.99, up from the earlier price of £389.99.
However, the price of the PlayStation 5 with an HD Blu-ray disk drive remains unchanged in Europe and the U.K.
The PlayStation 5 Pro, an enhanced version of the console released last year, has also been exempted from the price increase.
Sony also confirmed that the price of the PlayStation 5 has been increased in Australia and New Zealand.
The company stated that it was a "tough decision" to raise prices, citing factors such as high inflation and fluctuating exchange rates as contributing to the challenging economic environment.
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