Sony (SNE) is finally cutting the price of its PlayStation3 video game console. The new price, $299, is not particularly aggressive, but will help Sony in its battle versus Microsoft and Nintendo.
Credit Kmart.com for breaking the news: The site has a banner up advertising a “New Exciting Playstation3” available for pre-order at $299.99. The site provides no image of the console, but says the “PS3 SLIM” will be released on August 24, 2009.
Sony (SNE) has not yet made an official announcement, but is expected to at a press event in New York City today, says CNET.
The 25% price cut is long overdue, but it still places the PS3 as the highest priced console — the Wii costs $249 and the cheapest Xbox costs $199. (Though that does not include a hard drive.) The PS3’s advantage is that it includes Blu-ray movie playback.
And Sony really needs a boost: In July, Sony’s PS3 unit sales dropped 46% year-over-year, the Wii’s fell 55%, and the Xbox 360’s dropped 1%.
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