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September 5, 2008 11:27:39 AM CDT

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Sony Cuts PS3 Price For Xmas

Posted Oct 18, 07 11:32 AM CDT in US,  Business,  Technology 

(Newser) – Sony has slashed the price of PlayStation 3 by $100 in advance of holiday shopping; the cheapest console will now be a 40-gigabyte model for $399—down from $499 for a 60-gigger. PlayStation is the priciest of its rivals, and sales have lagged: Compared with 404,000 Nintendo Wiis and 277,000 Xbox 360s, only 131,000 PS3s sold in August, the Journal reports.

Sony’s system is now only $50 pricier than Microsoft’s, but still nowhere near Nintendo’s $250. A Sony honcho admitted PS3’s high price—$599 as recently as July—had hurt sales. But the chop comes with a catch: The system won’t play games from PlayStation 2—a limitation meant to spur more new purchasing.

Source Wall Street Journal

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Three different colored models of Sony's new PlayStation 3 video game machine are displayed on the opening of Taiwan's Taipei Game Show, in Taipei, Taiwan, in this February 16, 2006, file photo. (AP Photo,...   (Associated Press)
Jack Tretton, president and CEO of Sony Computer Entertainment America, talks about the PlayStation 3 game during a new conference, Wednesday, July 11, 2007, in Culver City, Calif. (AP Photo/Mark J. Terrill)   (Associated Press)
Ken Kutaragi, known as the "father of the PlayStation," holds up a package of the PlayStation 3 video game console as he kicks off the first sale of Sony's PS3 in Japan in this Nov. 11, 2006 file photo....   (Associated Press)
The Sony Playstation 3, 40gb model.   ((c) nigt)
In an effort to match competitors, the Sony Playstation 3 will be reduced in price by $100, leaving them just $50 ahead of the closest-price competitor, the Microsoft Xbox 360.   ((c) nigt)
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SCEA's Vice President Jack Tretton quoting on Playstation 3   (snipersLock (YouTube))

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Nintendo Wii  • Sony  • Xbox 360  • PlayStation 3  • price cut


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