Valve hikes Steam Deck OLED prices by $240-$300 amid memory shortage

Valve has raised Steam Deck OLED prices substantially, with the 512GB model jumping from $549 to $789 and the 1TB version climbing from $649 to $949. The hardware itself is unchanged — Valve attributes the increases entirely to rising memory and storage component costs and broader supply chain pressures. Both models are now back in stock after months of intermittent availability, with refurbished units offered at modest discounts.

The same shortages have pushed back Valve’s Steam Machine and Steam Frame launches from early 2026 to later in the year. Valve isn’t alone: Lenovo raised the Legion Go 2 price in April, and Sony and Nintendo have announced increases for the PlayStation and Switch 2, reflecting an industry-wide squeeze on DRAM and NAND supply.

The pricing shift signals that the memory crunch driving enterprise and AI infrastructure costs is now reaching consumer gaming hardware, eroding the Steam Deck’s value proposition against pricier competitors like the ROG Ally and Legion Go.