Valve raised prices on its Steam Deck OLED models by over 40% in May 2026, with the 512GB version jumping from $549 to $789 and the 1TB model from $649 to $949 [1, 2, 3, 4, 5, 6]. The models had been out of stock for months due to component shortages but recently returned to inventory at the new prices [1, 5, 7, 6].
Valve attributed the price hike to rising costs of memory (RAM) and storage components, along with global logistical challenges affecting the hardware industry broadly. The company said, "These new prices reflect the current state of component costs and other global logistical challenges across the industry as a whole" [1, 3, 8, 5, 6].
Refurbished older LCD Steam Deck models are also back in stock with prices unchanged, including the 64GB at $279, 256GB at $319, and 512GB at $359 [5, 6]. Valve confirmed the Steam Deck hardware is unchanged; only the prices have increased [1, 3, 5, 6].
Several industry analysts have linked the increases to a global RAM shortage pushing PC and console hardware prices higher. Analyst Mat Piscatella said, "My guess...is that yesterday's increase in Steam Deck prices signals that we'll likely be seeing four digit pricing for the Steam Machines...However, my confidence in this estimate is not high" [8]. IGN commented, "Welcome to The Desert of the RAM...It pains me to say it, but we're probably heading into an era where most gaming devices start at around $1,000" [9].
Other major hardware makers like Sony, Nintendo, and Microsoft have also recently raised prices or announced increases due to similar component and supply strains [1, 3, 4, 5, 7].
The Steam Deck OLED remains popular despite price hikes and scarcity, with restocked units selling out quickly [7, 10]. Some players are reselling used Steam Deck OLEDs at a profit given the higher retail pricing [11]. Gamers compare the Steam Deck with newer handhelds like the Xbox Ally X, citing differences in hardware, compatibility, and price [9, 11].
Valve has not announced a retail price or release date for its planned Steam Machine console/PC hybrid, but rising hardware costs suggest the price may exceed $1,000, with some speculation around $1,200 [1, 3, 8, 5, 9]. The Steam Controller officially launched on May 4, 2026 [4].
