For most of console history, prices moved one way after launch: down. The current generation has reversed that pattern. As of September 2026, every PlayStation 5 model costs more in the US than it did at launch, the Nintendo Switch 2 costs $50 more than its launch price, and Microsoft has raised Xbox prices again.
The common thread is memory. The same AI data-center buildout that is driving up the cost of PC RAM has made DRAM and flash storage one of the largest line items in a console’s bill of materials. Below is what moved, why, and what it means if a console is on your holiday list.
Trend Signal
80/100 Strong momentum
- Emerging
- Rising
- Mainstream
- Peaking
- Cooling
All three console makers raised US prices within five months
Sony raised US PS5 prices on April 2, 2026, Microsoft raised Xbox prices on August 1 and Nintendo raised the Switch 2 on September 1, with Microsoft citing memory and storage costs up more than 2.5x.
Our editorial reading of the cited data, not a forecast. How it is scored
By the numbers
- $599.99US price of the PS5 Digital Edition from April 2, 2026, vs $399.99 at its 2020 launchPlayStation Blog
- 2.5x+Rise in console memory and storage prices cited by Microsoft in its June 2026 price noticeXbox Wire
- $499.99Nintendo Switch 2 US MSRP from Sept. 1, 2026, up from $449.99Nintendo of America
- 35%+Memory share of Sony and Microsoft console bill of materials anticipated by 2026TrendForce, Dec. 2025
The old console price curve broke
Sony launched the PlayStation 5 on November 12, 2020 at $499.99 with an Ultra HD Blu-ray drive and $399.99 for the Digital Edition. Nearly six years later, US prices are higher, not lower. Sony raised them first on August 21, 2025, citing a “challenging economic environment,” and again on April 2, 2026, when the disc model went to $649.99, the Digital Edition to $599.99 and the PS5 Pro to $899.99. The PlayStation Portal remote player rose to $249.99 in the same move.
Nintendo kept the Switch 2 at its $449.99 launch price until May 7, 2026, when it announced that the US MSRP would rise to $499.99 on September 1. Microsoft raised Xbox prices by $100 on 512 GB models and $150 on 1 TB models on August 1, 2026, and retired the 2 TB model. In the same notice, Microsoft said it had already raised US console prices by $20 to $70 in October 2025.
Side by side, the numbers show the reversal clearly. The cheapest way into a PS5 now costs half again what it did at launch.
| Model | Launch US price | US price, Sept. 2026 | Change |
|---|---|---|---|
| PS5 with disc drive | $499.99 (2020) | $649.99 | +30% |
| PS5 Digital Edition | $399.99 (2020) | $599.99 | +50% |
| PS5 Pro | $699.99 (2024) | $899.99 | +29% |
| Nintendo Switch 2 | $449.99 | $499.99 | +11% |
The mid-generation price cut has become a mid-generation price increase.
Memory is the cost consoles cannot escape
Consoles are unusually exposed to memory prices because memory is a large, fixed part of the hardware. TrendForce projected in December 2025 that memory would account for 21% to 23% of the Switch 2’s hardware cost in 2026, and said Sony and Microsoft anticipate memory making up more than 35% of their consoles’ bill of materials by 2026. It also tied the Switch 2’s $450 launch price, higher than the original Switch, to a doubled memory capacity.
Then memory prices surged. TrendForce projected in February 2026 that conventional DRAM contract prices would rise 90% to 95% quarter over quarter in the first quarter, with NAND flash, the memory used for storage, up 55% to 60%. Microsoft put the effect plainly in its June 25, 2026 notice: “console storage and memory prices have increased by more than 2.5x,” and it said it expects another doubling by the fall of the following year.
Console makers build games around a fixed hardware spec, so cutting memory to save money is not a practical option partway through a generation. When a major input cost doubles, the choices are to absorb it or raise the price, and all three companies raised prices. Nintendo described its change as a response to market conditions “expected to extend over the medium to long term.”
How each company is passing the cost on
Sony has moved the most. Two US increases within eight months lifted every PS5 model, and the April 2026 notice also set higher prices in the UK, Europe and Japan. The PS5 Pro, which launched on November 7, 2024 at $699.99 as a disc-less console with the disc drive sold separately, now costs $899.99 before that add-on.
Microsoft paired its increase with ways to spread or trim the cost rather than a lower sticker price: buy-now-pay-later at Microsoft Store, 0% APR financing for up to 12 months that it said it was arranging with partners, trade-in and previously played console programs it said it was developing with retailers, and certified refurbished units at up to $100 off MSRP. Retiring the 2 TB model also removes the configuration with the most built-in storage.
Nintendo’s increase was the smallest in dollar terms, and it left the original Switch price unchanged. The Switch 2 had sold 23.68 million units worldwide by June 30, 2026. Storage is its hidden cost: the system has 256 GB built in, and expansion requires microSD Express cards, since Nintendo says older microSD cards that lack the Express standard will not work.
What the new price curve means for holiday 2026
Waiting for Black Friday assumes manufacturers have margin to spend on discounts. TrendForce warned in December 2025 that the inability to lower retail prices would likely weaken promotional efforts in 2026, and it cut its 2026 console shipment forecast from a 3.5% decline to a 4.4% decline. A return to 2024 pricing is not what the data points to.
Memory prices are no longer rising as fast. TrendForce expects DRAM contract prices to rise 13% to 18% in the third quarter of 2026, a slower pace than the first half, because PC and phone buyers are reaching an affordability limit. Slower increases are still increases, and Microsoft’s own outlook assumes costs keep climbing.
For buyers, that argues against waiting on a price cut that may not come. The realistic savings are elsewhere:
- Certified refurbished consoles: Microsoft lists refurbished Xbox units at up to $100 off MSRP.
- Digital versus disc: at April 2026 prices the PS5 Digital Edition is $50 cheaper than the disc model, but it rules out used and borrowed discs.
- Storage: add the cost of a microSD Express card or SSD to the total, since both use the same flash memory whose price surged.
Budget for the console you want at today’s price rather than planning around a discount.
Who should buy now and who can wait
Buying now makes sense if a specific game is the reason, or if several people will share the hardware for years; spread over a long life, a $50 to $150 increase is a small share of the cost per year. It also makes sense if the model you want has already had its 2026 increase, since the evidence points to flat or higher prices rather than lower ones.
Waiting makes sense if you already own a working console from this generation: the upgrade case for a PS5 Pro at $899.99 is weaker than it was at $699.99. It also makes sense if your interest is casual. A refurbished unit, or the hardware you already own, covers a lot of play while the memory market works through its shortage.
What to watch next
- Whether Sony posts another US price notice on the PlayStation Blog before Black Friday
- TrendForce’s fourth-quarter 2026 DRAM contract forecast; a flat or falling number would ease the pressure on console makers
- Nintendo’s next quarterly hardware figure, which will show whether the $499.99 price slowed Switch 2 sales
Where to start
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Ways to lower the cost of a 2026 console setup
| Product type | Good fit for | Where to look |
|---|---|---|
| Certified refurbished game console | Fits buyers who want the lowest entry cost | See listings on AmazonOpens Amazon search results, not one listing: check the model on the product page. |
| microSD Express memory card | Fits Switch 2 owners short on space | See listings on AmazonOpens Amazon search results, not one listing: check the model on the product page. |
| M.2 NVMe SSD with heatsink for consoles | Fits PS5 owners adding game storage | See listings on AmazonOpens Amazon search results, not one listing: check the model on the product page. |
Product types that fit the trend described above, not tested models. Check the exact listing before you buy. How we pick them.
Certified refurbished game console
Where to look: Amazon
Microsoft lists certified refurbished Xbox units at up to $100 off MSRP. For any refurbished console, who backs the warranty matters more than the size of the discount.
- Often below new list price
- Same hardware as a new unit
- Warranty terms vary by seller
- Colors and bundles are limited
microSD Express memory card
Where to look: Amazon
Nintendo says Switch 2 works only with microSD Express cards. Buy the capacity you expect to need, since flash contract prices rose sharply in 2026.
- The only card format Switch 2 accepts
- Frees space on the 256 GB internal drive
- Priced up along with flash memory
- Older microSD cards are not compatible
More: Gaming and Entertainment trends and how the Trend Signal is scored.
Sources
- PlayStation 5 launches in November, starting at $399 for PS5 Digital Edition — PlayStation Blog
- PlayStation 5 price changes in the U.S., August 2025 — PlayStation Blog
- Welcome PlayStation 5 Pro — PlayStation Blog
- New price changes for PS5, PS5 Pro and PlayStation Portal — PlayStation Blog
- Updated Xbox console prices — Xbox Wire
- Price revision for Nintendo Switch 2 system — Nintendo of America
- Nintendo Switch 2 features, storage and microSD Express — Nintendo
- Hardware and software sales units — Nintendo investor relations
- Memory price surge squeezes game console margins; 2026 shipment forecast revised downward — TrendForce
- Memory price outlook for 1Q26 sharply upgraded — TrendForce
- AI server demand continues to support memory prices in 3Q26 — TrendForce
Questions readers ask
Why did the PS5 get more expensive in 2026?
Sony raised US prices on April 2, 2026, citing continued global economic pressures: the PS5 went to $649.99, the Digital Edition to $599.99 and the PS5 Pro to $899.99. Industry data points to memory; TrendForce said Sony and Microsoft anticipate memory making up more than 35% of their consoles’ bill of materials by 2026.
How much did the Switch 2 price go up?
Nintendo of America announced on May 7, 2026 that the Switch 2 MSRP would rise from $449.99 to $499.99 on September 1, 2026. The original Nintendo Switch price was unchanged in that announcement.
Why did Xbox prices rise again?
Microsoft raised US Xbox prices by $100 on 512 GB models and $150 on 1 TB models on August 1, 2026, saying console storage and memory prices had risen more than 2.5x. It also discontinued the 2 TB model.
Will console prices drop for Black Friday 2026?
Deep cuts look unlikely. TrendForce said in December 2025 that high memory costs would likely weaken promotional efforts in 2026, and it forecast DRAM contract prices rising another 13% to 18% in the third quarter of 2026.
