Steam Deck Price Increase of More Than $200 as Valve Cites Rising Memory and Storage Costs — Is It Still Worth Buying?

Valve has increased the price of its Steam Deck OLED handheld gaming PC by more than $200 (about £150), marking a sharp shift in pricing for one of the most popular portable gaming devices on the market.

The 512GB model now costs $789 (£590), up from $549 (£411), while the 1TB version has risen to $949 (£710) from $649 (£485). The adjustment comes as the device remains readily available for purchase on Steam, with estimated delivery times of three to five business days, a notable contrast to earlier periods of intermittent stock shortages.

Price Increase Exceeds $200 Across OLED Models

The latest Steam Deck price increase affects both OLED configurations, with rises of $240 (£180) and $300 (£224), respectively, depending on storage tier, as reported by The Verge. The 512GB Steam Deck OLED has moved from $549 (£411) to $789 (£590), while the higher-capacity 1TB model has increased from $649 (£485) to $949 (£710).

Despite the significant Steam Deck price hike, Valve has not introduced any hardware changes or new features alongside the revised pricing.

Refurbished Steam Deck units are also available, offering lower entry prices compared with the new models.

A refurbished 512GB OLED unit is listed at $629 (£470), while the refurbished 1TB OLED model is priced at $759 (£568). These options provide an alternative for consumers impacted by the higher retail pricing of new units.

Valve Cites Rising Memory and Storage Costs

Valve attributes the Steam Deck price increase to higher component costs, particularly in memory and storage. The company has stated that the revised pricing reflects current market conditions affecting the supply of critical hardware components used in the device.

Valve has also pointed to wider industry pressures, including ongoing logistical challenges and constrained supply chains.

The company previously warned that Steam Deck availability could be affected in some regions due to memory and storage shortages. These constraints have contributed to a broader reassessment of pricing across its hardware line-up.

The company is also facing similar pressures across its wider hardware ecosystem. Supply constraints linked to memory and storage components have affected the development and launch timelines of other devices, including the Steam Machine and Steam Frame, which were initially expected to ship earlier in 2026 but are now anticipated later in the year.

Gaming Hardware Faces Broader Price Pressures

The Steam Deck price increase forms part of a wider trend across the gaming hardware industry, where manufacturers have begun adjusting retail prices in response to rising component costs. Similar increases have been reported across competing devices and platforms.

Lenovo has raised the price of its Legion Go 2 handheld gaming device, while Sony and Nintendo have also announced price increases for upcoming or existing gaming hardware, including PlayStation systems and the Switch 2. These adjustments have been linked to ongoing pressure on memory and storage supply chains, which continue to affect production costs across the sector.

Industry analysts have described the situation as a broader 'RAM and storage shortage' impacting multiple categories of consumer electronics, particularly devices that rely heavily on high-speed memory components.

Availability Remains Stable Despite Pricing Changes

Unlike previous supply disruptions, Steam Deck OLED models are currently in stock and available for purchase with relatively short delivery estimates of three to five business days. This marks an improvement in availability compared with earlier periods when Valve warned of intermittent shortages in certain regions.

The company also continues to sell refurbished units through its official store, which remain priced below new models and may appeal to buyers seeking lower-cost entry points into the Steam Deck ecosystem.

Valve has already made adjustments to its hardware roadmap in response to supply constraints. The company launched the Steam Controller on 4 May after announcing it alongside the Steam Machine and Steam Frame. However, broader rollout plans for its upcoming hardware remain influenced by ongoing component shortages.