Playstation 3 Price Cut

In order to sell more consoles in time for Christmas, Sony has decided to drop the price of their flagship console the Playstation 3. The redesigned, cheaper version of the console will sell at just ?49.99 from the end of next month. This is a reduction of ?0 on the current model.

The new price will be applied to the consoles before the key Christmas selling season in stores such as HMV due to a difficult summer of poor demand for the consoles and the software. Sony is hoping that this price cut will draw potential sales away from their two rivals, the Microsoft Xbox 360 and the Nintendo Wii which both currently sell for less than ?00.



With the price cut of the PS3, there are rumours that Sony's competition may also be preparing for a pre-Christmas price cut in order to keep outselling the gaming giant. However, Nintendo have denied that they will be cutting the price of the Wii console any time soon. Although the Nintendo Wii may be technically inferior to its competitors, it's the best-selling home games machine of the current generation.

Sony have commented that because they have been able to reduce the number of components used in the console and the size of their consoles they feel that now is the right time to pass the benefits and price savings on to their customers.

Cuts in prices like these have been happening since the early 1990's when the Sega and Nintendo were slashing the prices of the Megadrive and Super Nintendo on a regular basis. Whether or not the reduction in price will help Sony sell more of the Playstation 3 console