PlayStation 5 price: How does Sony choose what to charge?

How does a company like Sony decide something like the PlayStation 5's price. Is it just based on cost or do other factors play a major role?

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Sony PlayStation® DualSense™ Wireless Controller - Apple

PS5 Controller Charger Dual Fast Type C Charging Cable For Sony Playstation 5 Game Joystick For PS5 Accessories, White

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SONY increases PlayStation5 price by up to 10% in Europe, China, Japan and other countries, just not in the US

OIVO PS5 Charging Station, Playstation 5 PS5 Controller Charger Station with 2 Pack Fast Charging Cords Replacement for Sony DualSense Controller, PS5 Remote Control Charger, Charging Docking Station : Video Games