07:06 AM EDT, 08/27/2024 (MT Newswires) -- Sony Group ( SONY ) said Tuesday that it is increasing the price of its PlayStation 5 in Japan to 79,980 Japanese yen ($552) from Sept. 2.

According to multiple media outlets the increase represents a price hike of almost 20%.

The company cited a challenging external environment including recent global economic fluctuations.

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