You might be paying more for the PlayStation 5 because of tariffs

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You could be required to pay more for the next PlayStation because of tariffs.

What you need to know

  • The U.S. and China are currently in the middle of a trade war.
  • Sony made a statement about the possibility of increased tariffs on Chinese goods.
  • An increase in tariffs would very easily raise the price of the next-generation PlayStation console.
  • Sony says that while things remain uncertain, they could be asking consumers to bear part of the burden.

The U.S. and China are currently embroiled in negotations because of a trade war. Due to this ongoing conflict, Sony believes that it could have an effect on their production of the next-generation PlayStation console, per the Wall Street Journal.

"We believe, and therefore have told the U.S. government, that higher tariffs would ultimately damage the U.S. economy," said the company’s chief financial officer, Hiroki Totoki. President Trump recently increased tariffs on importing Chinese goods to $200 billion and is open to increasing tariffs to $300 billion if current talks fail. Since PlayStation consoles are produced in China, one of the products affected by these tariffs would be Sony’s next-generation machine (which will almost certainly be called the PlayStation 5).

Mr. Totoki added to the Wall Street Journal that Sony isn’t quite sure how to proceed because of this issue, but it was "studying options including asking consumers to bear part of the burden." By bearing the burden, prices for the console would presumably be raised. This comes on top of the fact that Sony has previously said the console would be packed with high-end tech, including a cutting-edge SSD.

Sony released their financial results for the first quarter of business year 2019 earlier today, revealing that over 100 million PlayStation 4 consoles had been shipped. Even so, it was less consoles sold that Sony had expected and the company has lowered their forecast for the rest of 2019.

Everything we know about the PlayStation 5
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What Microsoft and Sony’s cloud gaming partnership may mean for the PlayStation 5

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July 30, 2019 at 08:18AM