Sony PlayStation 5 Series Reportedly Getting a Price Cut Going Back to the Launch Price (Update)

Update (12:15PM, March 25, 2023): Sony India has officially confirmed that it is reducing the prices as part of a promotional offer. In its statement, the company said, “PlayStation India has announced a special summer promotional offer wherein customers can avail INR 5000/-* off on purchase of all variants of PS5 console.” It confirmed that this “limited period” offer will be available starting from April 1, 2023.

Update from Sony: ‘PlayStation India has announced a special summer promotional offer wherein customers can avail INR 5000/-* off on purchase of all variants of PS5 console. This offer starts from 1st April 2023 onwards and will be valid for a limited period only.’ #PS5 #PS5India https://t.co/oPKwrm9Vhd

— 0xSkeptic | Cringe Connoisseur (@RishiAlwani) March 25, 2023

Japanese console manufacturer Sony will reportedly drop the price of its next generation console soon.

According to a recent post from Indian games market analyst Rishi Alwani through his 0451 newsletter, Sony will soon cut the price of the console down. As per the information, both the PlayStation 5 Digital Edition and the PlayStation 5 Disc Edition will get this price reduction.

Sony PlayStation 5 series price reduction details

At the time of writing, the digital version without the disc costs Rs. 44,990 and the regular version with the disc can be purchased at Rs. 54,990. Alwani states that Sony will soon slash the prices of both console variants by Rs. 5,000.

While the Digital Edition will come in at Rs. 39,990, the Disc Edition will be priced at Rs. 44,990. The new prices will bring back the PS5 gaming console to the original launch price before Sony hiked it late last year. Alwani has also shared that the God of War Ragnarok PS5 bundle will be sold at Rs. 54,990. The bundle previously cost Rs. 59,990.

Considering the price-sensitive nature of the Indian market, IGN India believes that the reduced pricing will likely play a key role in pushing console fans toward the Sony PS5 series. However, we need to wait and watch the impact of this move on the market.

PS5 stock situation in India

Following the console’s launch in early 2021, Sony has had a challenging time keeping up with the supply compared to the massive demand for the PS5 in India. The newsletter points out that Sony sold around 1,00,000 units in India last year.

The console maker has already brought in 20,000 units to the country to address the stock situation. Sony hopes to cut back on supply problems with this new batch of consoles and create a wider gap with its competitor, the Microsoft Xbox Series X and Series S.