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PlayStation DualSense controller and PlayStation 5 console.
Jakub Porzycki | Nurphoto | Getty Images
Sony announced on Tuesday that it was raising the price of its flagship PlayStation 5 gaming console, even though the device is entering its fourth year on the market.
The Japanese gaming giant said the suggested retail price of the PS5 is now 79,980 yen ($553), a 19% increase from its previous price. The price increase will take effect on September 2.
Sony said the price increase was due to severe external environment such as global economic fluctuations.
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