Sony announces a price increase of approximately $50 for its PlayStation 5 consoles in the United States, effective Thursday.

This adjustment comes as the Japanese company navigates a slow recovery in the video game market, compounded by the rising costs due to US tariffs.

All three versions of the PlayStation 5 will see a similar price hike, with the PS5 Pro set to retail for $749.99, according to the blog post released by the company on Wednesday.

The price changes follows US President Donald Trump’s announcement of extensive tariffs on imports from key manufacturing countries like China and Japan, raising concerns over potential supply chain disruptions and increased material costs.

Earlier this year, Sony raised prices in several European markets and rival Xbox also implemented price hikes for its consoles and accessories in the US, Europe, Australia and the UK.

Despite expectations that consoles would drive significant growth in the video game market this year bolstered upcoming release of premium titles like Take-Two Interactive’s “Grand Theft Auto VI” and Nintendo’s Switch 2 the recent price increases and the delay of “GTA VI” to next year have raised questions about the industry’s growth trajectory.

Sony confirmed that there would be no price changes in other markets and the prices of PlayStation 5 accessories will remain the same.