Nintendo and Xbox won't raise prices despite PlayStation 5 increase

Sony has announced that they have decided to raise the retail price of the PlayStation 5 in select regions. The reason is simple: inflation. Due to ongoing global inflation, both PS5s would see a price increase in Europe, the Middle East, Asia-Pacific, Latin America as well as Canada.

That said, it is only natural that consumers wonder if competitors Nintendo and Microsoft would do the same with their consoles. The answer, at least for now, is no.

Earlier this month, Nintendo president Shuntaro Furukawa stated that Nintendo has no intentions of raising the price of any version of the Nintendo Switch. Instead, the company will reduce the size of the Switch's packaging in an effort to lower the console's shipping and manufacturing costs.

The company seem genuinely keen to keep Switch prices where they are in fear of pricing people out of buying its popular console.

"Our competition is the variety of entertainment in the world," said Furukawa. "And we always think about pricing in terms of the value of the fun we offer…Nintendo has sold more than 100 million Switch units so far, and it's important to maintain the momentum of our overall business."

Microsoft sings a similar tune but isn't as definite in their answer as compared to Nintendo. In a statement, Microsoft mentioned that the price of the Xbox Series X and Xbox Series S will remain the same, but the company is open to evaluating its business if need be.

The statement reads, "We are constantly evaluating our business to offer our fans great gaming options. Our Xbox Series S suggested retail price remains at US$299 (S$418.50) and the Xbox Series X is US$499. This also applies to other markets and their current pricing."

It's likely that both companies are closely watching how markets, critics and fans react to Sony's price hike as they contemplate how to handle inflation moving forward.

The gaming market saw huge numbers during the pandemic but has since seen slow movement as people start spending less time at home and less money on video game consoles and games. Companies like Nintendo seem open to different ways to keep its boat afloat, but we can't say for sure whether Microsoft will flip the switch in due time.

Guess all we have to do is wait and see. With prices still remaining the same, interested gamers should get their hands on the various consoles while they can: Xbox Series X, Xbox Series S, Nintendo Switch, PlayStation 5.

ALSO READ: Sony hikes PS5 price on economic pressures, rising rates

This article was first published in Geek Culture.