SEATTLE — Valve increased the price of the 512GB OLED Steam Deck model to $789, an increase of 43% or $240 from its previous price of $549. The company also raised the price of the 1TB OLED Steam Deck model to $949, a 46% increase or $300 from its prior price of $649.

Valve cited rising memory and storage costs as the reason for the Steam Deck price increases. The company stated that the Steam Deck hardware itself has not changed, and the price changes reflect the current state of component costs and other global logistical challenges across the industry as a whole.

The OLED Steam Deck models were out of stock for months before the price increase announcement. Valve no longer sells the older LCD Steam Deck models directly, and the base 256GB LCD Steam Deck model, previously priced at $399, has been discontinued. The Steam Deck OLED was officially launched in November 2023 as a major hardware revision to the original LCD model. The 1TB OLED Steam Deck includes an anti-glare screen coating, a slightly nicer case, and an exclusive startup movie and keyboard theme.

Chris Scullion, deputy editor of Video Games Chronicle, said that rising RAM component costs could make the Steam Machine so expensive to manufacture that Valve might reconsider releasing it or wait until the situation improves. RAM prices have increased due to high demand from data centers that power AI systems.

The gaming industry has recently seen hardware and subscription price increases, frequently attributed to hardware tariffs, inflation, and RAM shortages. Sony raised the PlayStation 5 price by $100 in the U.S. and £90 in the U.K. in March, citing continued pressures in the global economic landscape. Nintendo announced a global price increase for the Switch 2 from $449.99 to $499.99 in the U.S., and from €469.99 to €499.99 in most European countries, effective September.