Weak Pound forces Sony price rises

Leading global electronics manufacturer Sony has confirmed that the lessening value of the Pound has forced it to raise the trade price of many of its products – though it has insisted that the price of its PS3 is staying put.

The Pound has lost 40 per cent of its value against the Japanese Yen since the credit crunch ensued, meaning that all overseas firms now effectively make less money from the UK sales.

Speaking to Videogamer.com, a spokesperson for Sony UK stated: Sony UK can confirm that in the past 48 hours it has communicated to its trade channel that due to adverse changes in the Yen/Euro and Euro/Pound exchange rate over the last six months, and with this uncertainty set to continue into 2009, Sony will increase the trade price of a number of products over the coming months.

The precise level of price increases has not yet been agreed, but it is likely that the vast majority of products affected will see increases of significantly less than 33 per cent. As these testing trading conditions continue, Sony does not believe that it will be alone in taking this form of action.”