After months of uncertainty, Sony finally confirmed it is cutting the price of the PlayStation 3, dropping the price tag of its 80GB and 160GB models by $100.
The 80GB PS3 is now available for $299, and the 160GB PS3 is available for $399, with Sony electing to make the price cuts effective immediately. The company previously denied price cuts would happen, even though analysts and gamers said something must be done to convince consumers to purchase the pricey console.
Rumors of a $100 PS3 price cut first began to surface in June, as the gaming industry prepared for the launch of the latest Madden NFL game from Electronic Arts -- which was released today.
The PS3, when it first launched in 2006, cost $600 and has greatly struggled on the sales charts, trailing the Nintendo Wii and Microsoft Xbox 360 game console. The powerful console has the best hardware, but has been relatively unable to create an impressive game catalog, with game studios disappointed with the high price and low sales of the console. The $100 price cut will hopefully get developers back on the bandwagon, which could lead to an increase in future PS3 game titles.
Although this is an obvious move to help spur PS3 unit sales, both Microsoft and Nintendo -- which hasn't cut the cost of its $249 Wii game console -- are expected to issue price cuts in the coming months. In addition to a price cut, Microsoft also is expected to introduce at least two different game bundles.
Are you interested in purchasing an 80GB PS3 for $299 or 160GB PS3 for $399?
