updated 02:30 pm EDT, Tue August 16, 2011
Sony cuts PS3 price to goose holiday 2011 sales
Sony wrapped up its Gamescom keynote with a surprise price cut on the PlayStation 3. The console is getting price drops worldwide and, in the US, will go down from $299 to $249 for a 160GB console. Sony hasn't detailed the 320GB model's drop but may bring it down to $299.
Europeans will see the price lowered to 249 euros. Japanese will see the PS3 down to 24,980 yen. All cuts should take effect immediately.
The drop brings the system lower than a hard drive equipped Xbox 360 and is likely to help keep the PS3 in competition during what could be one of the last major holidays for the current generation of consoles. This past July was one of the worst months for gaming in five years and may have prompted concern that systems might not sell at their existing prices.