Sony Computer Entertainment on Tuesday said it would reduce pricing of PlayStation 3 video game system across all the markets where it is available. With cut costs, Sony can expect the popularity of PlayStation 3 is likely to grow.

From now on, Sony PlayStation 3 160GB will cost $249 in the U.S., €249 ($358) in the European Union and ¥24 980 ($325) in Japan. The more expensive 320GB model will also get a price-cut to $299, €299 ($430) and ¥29 980 ($390) in respective regions. In addition, a limited edition inFamous 2 bundle is now available at participating retailers across North America. Even though the price drop on the PS3 video game consoles is not significant, for many customers it will be a catalyst for the acquisition of the device.

“Since its release in 2006, PS3 has gained tremendous support from fans around the world and its cumulative worldwide sales reached a milestone of 50 million units as of March 29, 2011. Equipped with future proof cutting-edge technologies including the sophisticated processors, Cell Broadband Engine and RSX, as well as the Blu-ray disc (BD) player and HDMI terminal, PS3 has continuously enhanced its value to consumers through system software updates to support new features and services including stereoscopic 3D content playback and support for the PlayStation Move motion controller,” a statement by Sony reads.

It is highly likely that Microsoft Corp., Sony’s arch-rival on the market of video game consoles, will follow SCE with price-cuts on various Xbox 360 versions or instructions of new models with better value.

Tags: Sony, Playstation