Sony Cuts $50 off PlayStation 3

16 Aug, 2011 By: Erik Gruenwedel

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Electronics giant lops $50 off both the 160GB and 320GB PS3 models

As expected Sony Corp. Aug. 16 said it will drop $50 from the retail price of the PlayStation 3 video game console effectively immediately.

Speculation about a price cut — announced at the Gamescom confab in Cologne, Germany — had picked up speed following Nintendo’s 32% reduction on the price of its 3DS system earlier this month.

The 160GB PS3 system now retails for $249 (from $299) while the 320GB unit sells for $299 ($349).

The price reduction also reflects the downward trend in video game sales in July, including a 20% drop in hardware revenue compared to the same period last, according to The NPD Group.
 

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