July 9, 2007
Sony will announce today its plans to lower the price of its PlayStation 3 video game console from $599 to $499. Sony saus that the new $499 price will be effective Thursday.
Sony President Ryoji Chubachi denied reports of a PS3 price cut in an interview with Reuters last Friday, but he later qualified his statement, saying there were no “immediate” plans to lower the price.
To date, the PS3 has experienced disappointing sales, due in large part to the $599 price tag, which was roughly $200-$300 more than XBox 360 (Microsoft) and Wii (Nintendo). The PS3 features a built-in Blu-ray player, so the newly-priced PS3 could boost Blu-ray HD disc sales, as well as those of the game console. Blu-ray supporters immediately said it would give the format an edge over its rival, Toshiba-backed HD DVD.
Sony will also announce a new 80-gigabyte PS3 for $600, which will eventually offer high-def movies and shows via downloads. The now $499 PS3 is 60-gigabyte. Sony last year offered a 20-gigabyte PS3 for $499, but discontinued it early this year.
The new entry-level $499 price is the same as Sony’s new standalone Blu-ray player (BDP-S300), which was introduced last month at $499.
The PS3 price drop has been rumored for the past week. Several Internet posters and TVPredictions.com readers have reported seeing the PS3 priced at $499 at Target stores across the country.
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