PlayStation 5 price hike could be on the cards as Sony keeps a watchful eye over the Nintendo Switch OLED
Those gamers desperately trying to get their hands on the PlayStation 5 at the moment might want to redouble their efforts. A report from Bloomberg has commented on Nintendo’s decision to price the new Switch OLED console at US$349.99, and worryingly for PS5 hunters, the article also states that Sony “is now closely monitoring the market response to Nintendo’s latest” (“latest” = Switch OLED).
It has been argued that the slight revisions from the previous Switch to the Switch OLED, which mostly amounts to the new display type, only costs Nintendo US$10 more per unit. While Nintendo itself has countered that the claim made by Bloomberg is “incorrect”, it certainly seems likely that Sony will want to see how well the Switch OLED, which is only US$40 cheaper than a PS5 Digital Edition console, performs on the market.
Bloomberg furthers the case for Sony mulling over a PS5 price hike with this statement:
Sony could have priced its latest PlayStation generation higher, as demand for the PS5 has far outstripped supply and it’s traded on resale markets at double its retail price.
There’s no denying Sony is in a very strong position to up the price tags of the two PS5 consoles, especially when a much less-powerful handheld console is selling in a similar region. If the Nintendo Switch OLED does start flying off the shelves, then Sony will see it as consumers being able to stomach a price rise for a highly desired product – and the PS5 is still one of the world’s most-wanted products. It’s likely gamers would be willing to shell out an additional US$50 if it meant the PS5 was actually available, and if any price hike removed the need to rely on scalpers and auction sites selling the console at vastly inflated prices.
A news report on July 15, 2021(JST) claimed that the profit margin of the Nintendo Switch (OLED Model) would increase compared to the Nintendo Switch. To ensure correct understanding among our investors and customers, we want to make clear that the claim is incorrect. (1/2)— 任天堂株式会社（企業広報・IR） (@NintendoCoLtd) July 19, 2021