Sony Cuts The Price Of Playstation 3

Sony just announced that their upcoming home console Playstation 3, will be 20% cheaper than expected when they release it In Japan later this year.

The competition in the highly anticipated console war is undoubtly heating up, and it's getting worse, as Sony just announced that the Japanese version of their console will get a price cut. The decision was made after several complains from both developers and retailers.

The price will be cut to 47,600 yen, or about $410, from an originally planned 59,800 yen, or $515. Sony will obviously benefit from this in the console war, but as we all know, the Wii will have a much lower price tag, and the PS3 is still the most expansive home console in the next generation.

Unfortunately for those who are planning on buying Sony's Next-Gen console in Europe or US (and fortunate for Nintendo and Microsoft) , the price reduction will not have en impact on those markets, according to Sony's spokeswoman Nanako Kato.