Sony Urges PS5 Owners to Trade In Consoles Amid Unprecedented Price Hikes

The outlook for affordable gaming consoles is growing less encouraging, and manufacturers such as Sony are feeling the pressure. The PlayStation 5 has seen two major price increases, while the Xbox Series X has risen in price three times in a single year. The AI-driven VRAM shortage contributing to these increases is expected to worsen, leaving Sony with few options for keeping PS5 prices within reach of customers.

Against that backdrop, it may be no coincidence that some PS5 owners have received notifications from Sony about a partnership with Back Market. The technology sustainability company campaigns against “fast tech” and operates a marketplace for refurbished electronics.

Sony’s offer to PS5 owners

According to Sony, PS5 owners can receive up to $400 for an old console through Back Market, provided it is in good condition and comes with two controllers. That is more than some competitors, including GameStop, offer for a trade-in. Still, with used or refurbished PS5 models selling for between roughly $600 and $1,300, the deal may not appeal to everyone. It could be more attractive to people already planning an upgrade, a group that may grow as the release of Grand Theft Auto 6 approaches.

Sony is not alone. Xbox has also spent part of 2026 encouraging fans to exchange their consoles for cash. Microsoft has presented the offer as a practical choice for people who no longer use their systems, though it also highlights Xbox’s weaker sales pitch during this console generation.

More recently, Xbox CEO Asha Sharma said demand for Xbox consoles had outstripped supply, a claim that drew skepticism. She suggested expanding Xbox’s refurbishment program as one way to address the shortage.

Both initiatives arrive ahead of the holiday season and major releases such as GTA 6, when demand for consoles is likely to be high. Whether they succeed remains to be seen. Meanwhile, rumors of a steep PlayStation 6 price and growing interest in jailbreaking the PS5 could give some owners another reason to keep their current systems.

Source: Polygon