Valve hikes Steam Deck OLED prices — 512GB is now $789, while 1TB climbs to $949

Valve's Steam Deck OLED is seeing a massive price increase. Widely considered one of the best handheld gaming PCs since its launch in 2023, the 512GB model is now $789, while the 1TB version is $949. Those are $240 and $300 increases, respectively.

In a blog post, Valve wrote that the price increases are "due to rising memory and storage costs."

"Steam Deck itself hasn't changed; these new prices reflect the current state of component costs and other global logistical challenges across the industry as a whole," the post reads.

The 512GB Steam Deck OLED was previously $549, while the 1TB upgrade was $649. As low-end gaming laptops have dried up, these were seen as a great value. But back in February, the handheld started going out of stock due to those same component shortages.

In this light, the Lenovo Legion Go 2, which we reviewed at $1,349.99, and Asus ROG Xbox Ally X, at $999.99, don't seem quite as outrageous anymore. The entry-level Asus ROG Xbox Ally, despite some performance issues and technical problems, may look more attractive than ever if it keeps its $599.99 price.

Memory and storage have also wreaked havoc with Valve's plans to launch its upcoming Steam Machine PC and Stream Frame VR headset. Those were delayed from the first quarter of 2026 into a murkier time. This price hike also suggests that those systems, which use newer technologies, will be even more expensive. Valve did launch its Steam Controller earlier this month.

The Steam Deck OLED follows a pattern of years-old machines getting price hikes as their manufacturers deal with the current component landscape. Microsoft increased the standard Xbox Series X to $649, while Sony's PlayStation 5 recently jumped to $649.99 for the base model and $899 for the PS5 Pro. In September, Nintendo will raise the price of the Nintendo Switch 2 by $50 in September. (If you're doing the math, yes, a 1TB Steam Deck costs more than a PlayStation 5 Pro.)

The Steam Deck OLED's prior pricing had previously led the market, leading us to question the expense of some Windows-based alternatives. We'll have to see if this price holds, but if it does, it may reorganize the entire value proposition of this product category in the first place.