Reduction in PlayStation 3 Price

Sony has announced that the price of the PlayStation 3 model will be reduced by 17 percent and a cheaper version will be introduced to improve sales of the popular video game.

The cost of PlayStation 3 having a storage space of 80 GB has been reduced by $100 i.e. from $599 to $499.The company is expecting an increase in sales of the video-game after introducing the new range of prices.

The company will also be introducing the 40GB PlayStation that will $399 from November 2.The steps have been taken by the company to compete with the increasing sales of video games by Nintendo Co.’s Wii and Microsoft Corp.’s Xbox 360.