A Steam Deck Now Costs More Than a PS5 Pro

"Steam Deck itself hasn't changed; these new prices reflect the current state of component costs and other global logistical challenges across the industry as a whole," Valve said in a statement posted today. What has changed is the price tag. The 512GB OLED model has jumped from $549 to $789, and the 1TB version has gone from $649 to $949. That's a nearly 50% increase on hardware that hasn't gained a single new feature.

Let that number sit for a second. A 1TB Steam Deck OLED now costs $949 in the United States. A PS5 Pro costs $699. You are now paying $250 more for a handheld that struggles with newer high-end PC games than you would for Sony's most powerful console. I don't care how much you love playing on the couch or on a plane; that comparison is brutal, and it's one Valve has to know people are going to make.

The price hike was first spotted by Wario64 on Bluesky, and the new prices are already live on Valve's Steam Deck store page. In Canada, the situation is even worse. As flagged by deals tracker Lbabinz, a 1TB OLED now runs CAD $1,349 before sales tax. In some provinces, that pushes the final price well past $1,500 for a portable gaming device.

Valve's explanation points to rising memory and storage costs, plus "global logistical challenges." Those aren't empty words. RAM and SSD prices have surged as AI companies vacuum up supply, and the closure of the Strait of Hormuz has thrown global shipping into chaos. Sony, Microsoft, and Nintendo have all raised hardware prices in the past year for similar reasons. But none of them asked customers to absorb a $300 jump on a single product overnight.

Refurbs Are the Lifeline

The one piece of good news is that certified refurbished Steam Deck models are still available, with LCD units starting under $400. Refurbished OLED units did see increases too, though, with the 512GB refurb now listed at $629 and the 1TB at $759. If you've been on the fence about picking up a Deck, the refurbished LCD route is now clearly the move for anyone who doesn't want to spend near-console prices on a handheld.

The original 256GB LCD Steam Deck, which had been out of stock for months due to those same RAM shortages, is no longer listed as available at all. Valve appears to have quietly discontinued it rather than reprice it.

What worries me more than today's sticker shock is what this signals for the Steam Machine, Valve's upcoming SteamOS-powered desktop gaming PC. Valve recommitted to a 2026 launch earlier this year but still hasn't announced pricing. If a portable with aging internals now costs $949, a more powerful box with presumably better specs could easily land above $1,000. Valve has earned enormous goodwill through Steam's pricing ecosystem, free multiplayer, and regular sales, but goodwill doesn't pay for hardware. The Steam Deck was originally positioned as an affordable entry point into PC gaming. At $949, it's a luxury product competing with consoles that offer more raw power for less money, and Valve is going to have a much harder time selling that pitch.