Sony may increase the price of the PlayStation 5 to offset U.S. Donald Trump’s tariffs.
Sony has warned it may raise the price of the PlayStation 5 due to the U.S. tariffs.
The company’s Chief Financial Officer (CFO) Lin Tao said Sony needs to find roughly 100 billion Yen – which equates to approximately $512 million – to offset the new tariffs introduced by U.S. President Donald Trump, and therefore may increase the cost of a PlayStation 5.
During a recent earnings report, Tao said: “In terms of the tariffs, we are not just simply calculating the simple tariffs [prices] to come up with 100 billion Yen, but are thinking about the current available information and looking at the market trend, we may pass the price [to customers] and also shipment allocation.
“So we are taking different measures in managing to come up to the 100 billion Yen.”
Sony CEO Hiroki Totoki added that even if the PlayStation 5 was manufactured in the U.S. for American customers, the console still would require components that were produced overseas.
He explained: “These hardwares can of course be produced locally, I think that would be an efficient strategy, but the PlayStation 5 is being manufactured in many areas [its components].
“So, whether its going to be manufactured in the U.S. or not, it needs to be considered going forward in such a critical situation.”
PlayStation 5 may get price hike due to tariffs, Sony warns
