Sony's 9-Year-Old PlayStation 2 Outsold The PS3 Last Month

f?id=4a0d76574b543762001d0b9c&maxX=350&m

Sony’s 9-year-old PlayStation 2 has actually been selling well for all these years, thanks in part to its huge library of great games. But thanks to a price drop at the end of March that sent the console down to $99, now the PS2 is even outselling Sony’s newer, better PS3.

Sony sold 172,000 PS2s in the U.S. in April, according to research firm NPD Group. That’s a 38% increase year-over-year. Meanwhile, it sold just 127,000 PS3s, down 32% year-over-year.

Even better: The cheaper PS2 may have also cut into Nintendo Wii sales, which was the whole plan. Nintendo sold 340,000 Wiis in April, down 52% year-over-year.

Price elasticity at work! And exactly why Sony is finally preparing to cut prices on the PS3.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.