Sony Increases Price of PlayStation 4 in Canada

Sony Corporation increased the price of its latest PlayStation game in Canada. PlayStation 4 started retailing for $449 on March 15, 2014, up from $399. According to the Financial Post, Sony reported that the $50 increase reflected the changes experienced in the market environment.

Although Sony did not specify what changes it meant, analysts believe the low value of the Canadian dollar has played a part in the price adjustment. The Bank of Canada’s currency converter equates 1.00 Canadian dollar to 0.90 U.S. dollars.

Enthusiasm among game buyers has also encouraged the company to increase the price. Canadian gamers have embraced the game as their preferred next generation console, and it has created a fierce competition with Microsoft’s Xbox One. According to The Toronto Sun, the PS4 is frequently out of stock in many national retailers in Canada although Sony says it makes regular shipments. On the other hand, the Xbox is readily available.

Sony issued a statement explaining that PlayStation 4 provided phenomenal play experiences that would help in defining the world of games for many years to come.

The prices of video games have traditionally been higher in Canada. Some retailers in the country cited the weak dollar when they raised the price of PlayStation 3 to $699 in 2007, which marked a rise of $40. The prices started marching those in the U.S. in 2008, when the Canadian dollar was relatively strong.