Valve, the maker of Steam, lifted the price of its handheld Steam Deck by more than 40%. The 512‑GB OLED edition now costs $789, up 43% from its launch price. The 1‑TB model jumps to $949, a 46% increase. The move follows a sharp rise in memory and storage component costs across the industry.

Valve said the handheld itself hasn’t changed; only component prices and global logistics have shifted. The OLED model, launched in November 2023, replaced the older LCD version and has been scarce for months. The company now sells only the OLED variant, pushing more consumers toward the pricier configuration in the current market that hardens for.

The price hike raises questions about Valve’s upcoming Steam Machine, a rumored gaming PC with no release date. Industry analysts warn that soaring RAM costs could make production prohibitively expensive, forcing Valve to delay or cancel the project. Similar price rises have hit other platforms, including PlayStation Plus, as manufacturers battle inflation and supply shortages.

Consumers now face a steep reality: the only way to own a Steam Deck is through the OLED model, priced at $789 for 512 GB or $949 for 1 TB. Valve’s decision signals that component inflation is reshaping handheld gaming budgets, and it may push buyers toward alternative devices that still offer competitive performance at lower costs.