Sony PlayStation 3 Price Set to Drop to $499 – Reports

by Anton Shilov
07/05/2007 | 11:22 PM

In a bid to increase the popularity of its PlayStation 3 game console, the premium version of Sony Computer Entertainment Inc.’s latest gaming machine will reportedly cost $100 less soon. Unfortunately, it is not exactly clear whether the price drop comes from Sony itself, or just a promo campaign by a store chain.

A Circuit City retail chain advertisement at Kotaku web-site displays black PlayStation 3 game console listed for $499.99, one hundred of dollars less than the official price of $599. However, the ad also says that the price will be effective starting from the 15^th of July and ending on the 21^st of July. Therefore, it is unclear whether the drop is a result of price policy reconsideration by Sony, or just Circuit City’s and/or Sony’s attempt to attract additional PlayStation fans into stores during seasonally weak summer season.

Nevertheless, an anonymous merchandising manager at one of “the world’s biggest retailers” has confirmed to GameDaily Biz web-site that the price drop is indeed retail-wide and it is scheduled to take place on July 12, although the first wave of ads to promote the PS3’s new price are not expected to kick in until Sunday, July 15.

Sony Computer Entertainment Inc. did not comment on the news-story. Earlier this year Howard Stringer, chief executive of Sony Corp., said that the company needed to cut the PlayStation 3 price, but it was expected that the firm would slash the PS3 pricing by Christmas.

Sony PlayStation 3 console is based on the Cell processor developed by IBM, Sony and Toshiba, the RSX graphics chip by Nvidia Corp., wireless network and Bluetooth connectivity and is equipped with Blu-ray optical disk drive. There are two versions of the PlayStation console available in the USA and Japan: one is equipped with 20GB hard disk drive and priced at $499, another features 60GB hard drive, card reader and some other improvements and is offered for $599.