Valve has announced a substantial price increase for the Steam Deck. The company announced today that all new OLED models are officially back in stock after months of being out of stock, but they will be getting a price increase. The lowest-tier model, the 512GB OLED Steam Deck, was previously $549 and will now cost $789. The premium 1TB OLED Steam Deck was previously $649 and will now cost $949. Valve stated that "these new prices reflect the current state of component costs and other global logistical challenges across the industry as a whole."

Refurbished LCD Steam Decks sold through Steam will not suffer a price increase, though it does appear that the refurbished OLED Steam Decks will still cost more than their original price. The refurbished 512GB and 1TB OLEDs now cost $629 and $759, respectively. If you're okay with a slightly less premium handheld, the refurbished versions of the now-discontinued LCD Steam Decks are a solid option. 64GB LCD costs $279, the 256GB LCD costs $319, and the 512GB LCD costs $359.

The PC handheld has been a beloved piece of gaming tech for a while, partially thanks to its value. It allows for a premium gaming experience on the go, and previously, it was relatively affordable. Now, the Steam Deck will likely be a harder sell, especially as it now gets into the price range of other high-end handhelds like the Xbox Rog Ally X, which costs $999.99.

Valve isn't the only one raising prices on its hardware. The three major gaming platforms (Xbox, PlayStation, and Nintendo) have all raised prices on their consoles, making it one of the only times in history when prices for consoles went up instead of down during a generation. A regular PS5, for instance, now costs $100 - $150 more than it did in 2020.

The news also comes amidst growing concerns that Valve's console-like device, the Steam Machine, will be unaffordable. Valve has yet to announce a price for the Steam Machine, leading to feverish speculation. The device aims to be a PC for your living room, and some hoped that would mean that even if it's more expensive than an Xbox or a PS5, it will at least still be more affordable than a PC. However, the rising costs of things like RAM mean that it may not even be possible for Valve. With the Steam Deck getting a massive price increase, one has to imagine that the Steam Machine will suffer as well.

The Steam Machine is currently expected to release sometime in 2026. It's unclear when Valve may reveal a release date or pricing information. It seems like Valve is waiting things out before it makes a definitive pricing decision, but the clock is ticking unless the company wants to indefinitely delay the new hardware.

Cade Onder is a freelancer for IGN's news team. He covers all things entertainment, including gaming, film, and more. You can find him on Twitter @Cade_Onder.