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PlayStation 3 Price Cut Boosts Sales

15 Nov, 2007 By: Erik Gruenwedel

Sony Corp. CEO Howard Stringer said the company sold more than 100,000 PlayStation 3 consoles in the week of Nov. 11 after implementing price cuts and introduction of a cheaper model Oct. 18, The Associated Press reported.

The PS3, which includes a Blu-ray Disc drive, has seen sluggish sales and stiff competition from Nintendo Co.'s popular Wii since launching a year ago. Last month Sony cut $100 from the 80GB PS3 while introducing a 40GB unit for $400.

The move apparently worked as weekly console sales jumped from 30,000 to 40,000 units to 75,000 units for the week of Oct. 29.

With Nintendo reportedly having difficulty stocking the Wii through the holidays, Stringer sees the PS3 filling the void.

“It's the breakthrough we've been anticipating,” Stringer told The AP. “We've been holding our breath.”

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