Steam Deck sold out in hours after a 46% price hike
The Steam Deck just got a lot more expensive, and it sold out anyway. Valve raised prices on May 27 without a formal announcement: the 512GB OLED model climbed from $549 to $789, and the 1TB version jumped from $649 to $949 — increases of 44% and 46% respectively. US and Canadian stock was gone within 24 hours, per Gaming on Linux.
The price
Valve cited rising memory and storage costs as the reason, a pressure driven largely by AI infrastructure demand — hyperscale data centers are competing for the same DRAM and NAND flash that goes into consumer hardware. The company posted new prices silently on the Steam store, with no press release or advance warning to buyers.
The hike pushes the Steam Deck into uncomfortable territory. At $949, the 1TB model costs more than a PS5 Pro. The Asus ROG Ally X sits at $999.99, and the Lenovo Legion Go 2 starts at $1,349 — neither looked like good value before, but the gap has narrowed considerably. Refurbished Steam Deck units still carry the old $549 entry point, though second-hand supply is tight enough to attract reseller markups.
The demand
The sell-out speed is the real story. A nearly $300 price increase on the 1TB model did nothing to suppress demand in North America. Buyers either didn't hesitate or had been waiting for restocks regardless of price. The official Steam page now shows the console as unavailable to US customers again.
As of May 28, UK, French, and Polish stores still had stock, reports Gaming on Linux. That's consistent with Valve's pattern of restocking North America first, with European availability following in staggered waves. The previous shortage started in the US before spreading to other regions — the same cascade looks likely now.
What comes next
UK buyers who want one should move quickly. There's no confirmed restock date, and Valve has not committed to a replenishment schedule. PC Gamer notes that the memory cost crunch affecting Valve hits the whole consumer electronics market, so a price reversal looks unlikely any time soon. At current pricing, the Steam Deck remains the only device running a full desktop version of Steam in a handheld form factor — which, for now, appears to be enough.