India, May 19 -- Sony has officially confirmed a price increase for its PlayStation Plus subscription service, affecting new users across select global regions. The company has cited "ongoing market conditions" as the reason behind the revision, as rising production and infrastructure costs continue to impact the gaming industry.

The price hike comes at a time when major gaming companies are adjusting their pricing models due to higher costs of memory, cloud services and game development. While existing subscribers are mostly protected, new players joining the PlayStation ecosystem after the change will now have to pay more for online gaming access and monthly benefits.

PlayStation Plus Price Hike Announced

Sony announced that PlayStat...