As part of a price drop campaign it is calling Operation Main Street, Walmart on Thursday announced it will cut back prices of many popular products over the next seven weeks, in time for the holidays. The more noteworthy items include a Magnavox Blu-ray player, the NB500MG9, priced at $198, down from its regular price of $229. It is capable of upconverting standard DVD movies and will support Dolby Digital and DTS surround sound formats. A 2GB Sony Walkman MP3 player will be priced at $49.

The doorcrasher, though, is likely the Compaq CQ-139WM notebook PC for just $298. The notebook sports a 15.4-inch screen and comes with a 160GB hard disk drive along with 2GB of RAM. Unfortunately, no other specifications are known about the system.

Finally, buyers of a $399 Sony PlayStation 3 gaming system will receive a $100 Walmart gift card as a bonus, while those who opt for the older PlayStation 2 system priced at $129 will receive a $30 gift card. To provide them with games to play on the PS3 system, the retailer has priced many popular games at $19.82, including MotorStorm, WarHawk and Resistance. The prices are due to come into effect on Saturday, November 8th.