Slimmer PS3, Slimmer Price

The Playstation 3 video game console has finally crumbled to the global recession's pressure. Sony Entertainment, the manufacturer of Playstation 3, announced on Tuesday that it has lowered the price of the advanced gaming system.

The price change, which will apply to the new, slimmer version of the console currently in production called the PS3 Slim, will have a price tag of $299. When the original PS3 was released in November 2006, the 20GB hard drive version cost $499, and the 60GB version was sold for $599. Currently, the two newest models of PS3s, the 80GB PS3 and the 160GB PS3, are priced at $399 and $499, respectively. The PS3 Slim, scheduled to hit stores September 1, will be 36 percent lighter than the previous models, and have a 120GB hard drive.

The Sony Playstation 3, whose notoriously high prices have put it at a disadvantage to its competitors, the Nintendo Wii and the Microsoft Xbox 360, might find the extra boost in sales it needs with the new PS3 Slim. To date, the Nintendo Wii leads the video game console market with 52.29 million sold systems, followed by the Xbox 360 with 31.30 million sold systems and the Playstation 3 with 23.26 million sold systems.

Source: VG Chartz