Sony Pushes PS5 Owners To Trade In Consoles Amid Unprecedented Price Hikes
Sony pursues new trade-in options as prices for PS5 consoles surge, but fans are unsure if it's a good deal
Sony is urging PlayStation 5 owners to trade in their consoles amid rising prices. This comes after the PlayStation 5's own price hike and Xbox Series X's price jumps in a single year. The shortage of AI-driven VRAM is contributing to the issue. Due to supply constraints, Sony has limited ways to sell PS5s at affordable prices. Sony recently began partnering with Back Market, a tech sustainability company.
Back Market offers to buy back PS5s for up to $400, provided the hardware is in good condition and includes two controllers. This is a better offer than what competitors like GameStop provide. However, the prices used or refurbished PS5s sell for, between $600 and $1,300, may not make Sony's offer competitive for most consumers.
This deal is more appealing to users planning to upgrade soon, especially with the release of Grand Theft Auto 6 approaching. Xbox has also encouraged console trades, framing it as a practical option for inactive users. Xbox CEO Asha Sharma recently claimed demand for Xbox consoles has outpaced supply, suggesting an expansion of Xbox's refurbishment program.
Both companies' initiatives coincide with the release of major games and the holiday season. It remains to be seen how these programs will be received.
Written by urgent.news from Polygon's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
