Sony just dropped PlayStation 5 prices by up to $125 through its direct store, completely undoing the $50 price hike it implemented earlier this year. The discount brings the PS5 Digital Edition down to $374 and the standard model to $424.99, making it one of the best console deals of the year for gamers.
Sony just pulled off a surprising reversal that's got the gaming world talking. The company is now offering PlayStation 5 consoles for up to $125 off through its direct PlayStation storefront, completely wiping out the controversial price increase it implemented earlier this year. The move comes as Sony faces increased competition in the console market and mounting pressure from gamers who balked at the price hikes. Using the promotional code PS5KLARNA, customers can snag the PS5 Digital Edition for just $374 and the standard PS5 with disc drive for $424.99. Interestingly, despite the Klarna branding, the discount appears to work without requiring the buy-now-pay-later service, making it accessible to all buyers. The timing couldn't be better for Sony, as major exclusives like Ghost of Yōtei and Death Stranding 2: On the Beach are driving renewed interest in the platform. The company hiked PS5 prices by $50 earlier this year, citing increased costs and tariff pressures. That move brought the Digital Edition to $499 and the standard model to $549, marking the first significant price increase since the console's 2020 launch. Industry analysts had warned the price bump could hurt sales momentum, especially as Microsoft maintained competitive Xbox pricing. The current discount not only erases that increase but adds an extra $75 in savings, suggesting Sony may be more concerned about market share than previously indicated. Gaming retailers are scrambling to match the deal, with some offering additional bundle incentives to compete with Sony's direct pricing. The discount notably excludes the PS5 Pro, Sony's premium $699 console that launched last month with enhanced 4K capabilities and ray tracing performance. That omission reinforces Sony's strategy of using the standard PS5 as a volume driver while positioning the Pro as a high-margin enthusiast product. Market research firm Ampere Analysis notes this type of aggressive pricing typically signals either inventory clearing or competitive pressure. With Microsoft recently cutting Xbox Series X prices for Black Friday and Nintendo's Switch 2 looming on the horizon, appears to be proactively defending its position. The promotion also comes as the company reported strong PlayStation revenue in its latest quarterly earnings, suggesting the discount is less about desperation and more about strategic positioning. For consumers, the math is compelling - the current $374 Digital Edition price represents a 25% discount from the raised $499 MSRP and beats most third-party retailer deals by significant margins.
