Why Are Console Prices Going Up? PS5, Xbox and Switch 2 Prices in Canada (2026)

Console prices in Canada went up because the memory and storage chips inside them got far more expensive. AI data centres are buying most of the world's memory, and console makers sell their hardware close to cost, so they passed it on. In 2026 alone, Sony raised the PS5 by $170 (to $819.99), Microsoft raised the Xbox Series X by $270 (to $999.99) and Nintendo raised the Switch 2 by $50 (to $679.99). Prices are not expected to come back down before 2027.

• PS5 (disc)$649.99 to $819.99
• PS5 Pro$959.99 to $1,099.99
• Xbox Series X$729.99 to $999.99
• Switch 2$629.99 to $679.99

Canadian list prices before and after the 2026 increases. Sources at the end of this post.

Canadian console prices now vs at launch

Consoles used to get cheaper as they aged. This generation went the other way. Here is what each console cost in Canada at launch and what it costs new today, at the manufacturer's list price.

Today's prices are the list prices at Best Buy Canada on October 22, 2026, which match the new manufacturer prices. Sales and bundles can be lower or higher.

Xbox Series X price in Canada over time

Timeline: every console price increase in Canada

Why console prices went up

1. Memory chips got much more expensive

Every console runs on memory chips. The PS5 and Xbox Series X each use 16GB of GDDR6 graphics memory, the Series S uses 10GB, and the Switch 2 uses 12GB of LPDDR5X, the same type of memory found in flagship phones. All of them also have an SSD built from NAND flash storage chips.

Since late 2025, the three companies that make most of the world's memory (Samsung, SK hynix and Micron) have moved their factories toward chips for AI servers, which pay far more. Research firm TrendForce found that ordinary DRAM contract prices roughly doubled in the first three months of 2026 and kept rising every quarter after that. Microsoft said in June 2026 that console memory and storage prices had gone up by more than 2.5 times, and that it expects them to double again by fall 2027. Read the full story in why RAM is so expensive right now.

2. Consoles are sold at or below cost

Phone and laptop makers build a profit into every device. Console makers usually do not. Microsoft said it plainly in its 2026 announcement: consoles are "typically not sold at a profit, but instead for less than they cost to make." The money comes later, from games and subscriptions. That leaves no margin to absorb a jump in chip costs, so the increase lands on the sticker price.

3. Old-style memory is being phased out

TrendForce reports that memory makers are winding down GDDR6 production to free up factory space for newer, more profitable chips. GDDR6 is exactly what the PS5 and Xbox Series consoles use. Less supply of an older part means a higher price for it.

4. Tariffs (mostly a US story)

In 2025, Sony and Microsoft raised US prices because of US import tariffs. Those hikes did not apply in Canada. Canada's own 50% counter-tariffs, in effect since September 8, 2026, list game consoles, but they only apply to goods that originate in the US. Consoles are made in Asia, so they are generally not hit. The 2026 Canadian increases came from chip costs, not tariffs.

Will console prices go down?

Not soon. TrendForce expects memory supply to stay tight through 2027, and Microsoft's own forecast is for memory costs to double again by fall 2027. Nintendo has said the market changes are "expected to extend over the medium to long term." New memory factories take years to build, so the shortage will not clear quickly.

One more thing to know: in the past, a console usually got cheaper when a slimmer model replaced it. Not this generation. In Canada, the PS5 Slim launched at the same $649.99 as the original PS5, and the Slim Digital Edition cost $579.99, $60 more than the Digital Edition it replaced.

Your options if you need a console on a budget

Refurbished consoles: what to check before you buy

1. Warranty. You want a written warranty, not "as is". Ours is 90 days on Fair and Good, 6 months on Excellent and 1 year on New. Details on our warranty page.
2. Storage size and edition. Disc or digital, 512GB or 1TB. The listing should say exactly which one you get.
3. Controller. Check that a working controller is included and that the drift-prone sticks were tested.
4. Account removed. The console should be factory reset and signed out of the previous owner's PlayStation, Xbox or Nintendo account.
5. Clear grades. The seller should say what each grade looks like. Our grades describe looks only, and every console works 100%. See our promise.

Not sure which console to get? Read which console you should buy, PS5 vs Xbox Series X, PS5 vs PS5 Slim vs PS5 Pro or PS5 vs Switch 2.

Questions people ask