PlayStation 5 price drops to historical low amidst PS5 Slim launch rumors

The sales of the PlayStation 5 is recovering nicely following a years-long "slump" due to a worldwide stock shortage.


It's like Sony is desperate to clear inventory to make way for a replacement.

Sony’s PlayStation 5 has become a must-have for many, but for a long time, the high price point and the stock shortage made it near-impossible and uneconomical to get one. But, if you’ve been humming and hawing about joining the next-gen club, a string of recent price reductions just might be the motivation you need to dive in.

In a move fueling speculations, the PS5 price tag is experiencing significant slashes, not just in the UK, but across many regions in Europe.

Fresh off the back of some thrilling game announcements – think Marvel’s Spider-Man 2 and Baldur’s Gate 3 – the PS5 is cementing its status as a sought-after gaming console. These titles, coupled with a rich existing lineup of exclusives like Final Fantasy 16, have made the PS5 increasingly tantalizing. But here’s the cherry on the cake: Sony is wooing gamers with an impressive price drop.

While Baldur’s Gate 3 will no longer be a pseudo-exclusive for the PlayStation 5, it’s still expected to sell very well for Sony’s flagship console.

By heading over to the official PlayStation Direct website, potential buyers in the right regions can nab a brand-new PS5 console (complete with a disc drive) and enjoy savings of at least £75. This appealing offer is also up for grabs at select retailers, depending on your location. 

Yet, the sweetness of this deal doesn’t end there. Current PlayStation Plus subscribers are in for an additional treat. The hefty discount comes with free express delivery. The only catch? Adding another item to the cart – perhaps a secondary controller for those fun-filled co-op sessions.

However, there are a few minor asterisks to note. This tempting price drop doesn’t extend to console bundles. For the yet-to-be-released Spider-Man Limited Edition PS5, which, by the way, has been targeted by scalpers, this discount will not apply. As with all good things, there’s no saying when the consoles will revert to their original prices. Hence, if you’re after a good bargain, the clock’s ticking.

Another expected top-seller for the PS5 is Final Fantasy 7 Rebirth, which comes out early next year.

Interestingly, this isn’t the first time Sony has teased gamers with a reduced PS5 price tag. Just a month ago, the PS5 saw its standard model’s price drop by €100 in Spain and Portugal. This two-week promotion, stretching from August 25 to September 7, stirred rumors that Sony might be preparing for the launch of a novel PS5 with a detachable disc drive later this year.

Sony’s pricing strategy has indeed piqued curiosity. After the company officially slashed the PS5’s price by £75 in the UK last month, some retailers took the liberty to offer even bigger discounts. Over in the US, stores like Target temporarily knocked $50 off the PS5’s regular price, retailing it for a competitive $449.

All this price juggling has led to some intriguing speculation. Many industry insiders and gamers alike are questioning whether these discounts signal the imminent arrival of a new PS5 Slim Edition. This theory gains further traction from a statement in Microsoft’s legal documents, hinting at an expected Sony release of a new PS5 console this year, priced identically to the existing PS5 Digital Edition.

Marvel’s Spider-Man 2 will be the lone flagbearer of Sony’s first-party studios for this holiday season.

However, for those who’re more about the now than the next, several UK retailers are not just offering the PS5 at a very low price, but they’re also sprinkling in freebies.

It’s unclear if Sony plans to roll out the discounts all over the world. However, for now, those in the UK and Europe have another reason to switch and/or upgrade to the PS5.

Sony’s PlayStation 5 debuted in November 2020 and has since witnessed a roller coaster of price adjustments, supply-chain disruptions, and massive sales. The company recently revealed that PS5 sales had crossed the 40 million mark globally. Though PS4 still holds the title for being the fastest Sony console to achieve this milestone, it didn’t grapple with the Covid-related supply issues that curtailed the PS5’s surge.

The PlayStation 5 is still on track to outsell the PS4 if it improves its sales over the next few years, which will likely happen based on the current trajectory.

So, whether you’re a die-hard gamer, a casual player, or someone just looking to snag a good deal, now might be the opportune moment to get your hands on a PS5. But remember, prices and offers can change in a heartbeat. Always be savvy, do your research, and ensure you’re getting the best value for your hard-earned cash. Happy gaming!

By the way, GameStop is letting Xbox Series X swap their consoles for the PlayStation 5 for a discount.

Ray Ampoloquio
Ray Ampoloquio // Articles: 7186
With over 20 years of gaming experience and technical expertise building computers, I provide trusted coverage and analysis of gaming hardware, software, upcoming titles, and broader entertainment trends. // Full Bio