The Toronto Sun is reporting that the price of new PS4 consoles will rise to $449.99 as opposed to the current price of $399.99.
According to the report, Sony has confirmed the price increase “to respond to changes in the market environment.” This is not unprecedented as Canada has already seen price increases on individual game titles to $64.99 over the standard pricing of $59.99. The report also states that upcoming titles “Infamous: Second Son and MLB 14 The Show will be priced at $69.99.”
Though pinpointing any one reason would only be speculation, it can be assumed that the current instability in the currency markets along with the weakening of the Canadian Dollar could fuel this type of business decision. As the value of the currency falls, the cost for importing products will rise which could explain this price increase since the PS4 is not manufactured in Canada. Residents of the United States would not need to worry about a price increase since the US Dollar is not experiencing any weakening of the likes of its Canadian counterpart. Of course other factors could cause a price increase domestically and we’ll keep you informed if anything comes to light.