Sony to cut Playstation 3 prices

Sony’s game unit said today that it will cut the prices of its next generation PlayStation 3 game consoles in Japan next week, and offer a new low-range model in November.

Sony Computer Entertainment Inc will cut the price of its model with 20 gigabytes of hard disk memory by about 10% to 44,980 yen (€274) from the current 49,980 yen (€304), with effect from October 17, the company said in a statement posted on its website.