Sony is also hoping to regain lost ground from its main rival, Microsoft Corp, which makes the Xbox. It announced the cuts a week after sales for new games suffered their lowest month in nearly five years, according to retail research firm NPD.
After a rough year of consistent hacks on Sony's PlayStation Network and other online services, the price cut is likely put in place to boost PS3 sales and stay competitive with Microsoft's Xbox 360.
“In addition, a limited edition inFAMOUS 2 bundle is now available at participating retailers across North America. The bundle retails for $299 and includes a 320 GB PlayStation 3, a copy of inFAMOUS 2 and a 30-day membership to PlayStation Plus,” SCEA’s CEO Jack Tretton wrote on the official blog.
Sony's biggest current bet is the Vita, a light-weight handheld device with flashy graphics. Game blogs have lit up with criticism over its launch date and price. It will face a tough fight from Nintendo, which lowered the price of its handheld 3DS more than 30 percent only four months after it hit stores in the United States.
Sony said the new pricing would take immediate effect in Europe and start on August 18 in Japan.
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