Sony announce PlayStation 3 price cut

Japan’s Sony Corporation today said it was to lower the price of its much-anticipated PlayStation 3 video game console, heating up the competition in the next-generation gaming war against rivals Microsoft and Nintendo.

The announcement comes just days after Microsoft announced it would roll out an external high definition DVD player for its Xbox 360 in an effort to match the PlayStation 3, which is due to be released later this year with its own Blu-ray DVD technology.

Sony will cut the price of its basic PlayStation 3 model in Japan to 47,600 yen (€319.52), from an originally planned 59,800 yen (€401.40).

That puts the PlayStation 3 in the same range as the combined basic Xbox 360 and HD DVD player in Japan, where the duo will sell for 49,600 yen (€332.94).

The price cut affects the basic PlayStation 3 model, which comes with a 20 gigabyte hard drive. The price of another 60 gigabyte version will be left to retailers.

The PlayStation 3 will go on sale in Europe at £335 (€498) for a 20 gigabyte hard drive version and at £402 (€598) for the 60 gigabyte version.