Sony slashes price of PlayStation 3

FOSTER CITY, Calif. Sony Computer Entertainment America has reduced the price of its current 60 GB PlayStation 3 model to $499, or $100 below the original launch price, the company announced yesterday. In addition the company also reported that a new 80GB model of its PlayStation 3 computer entertainment system would be available beginning in August in North America for a suggested retail price of $599.

"As we move into the next phase of PS3, it's important that we continue to evaluate our product line, offering consumers the technology and features that meet their growing needs for new forms of media and the way in which it is delivered," said Jack Tretton, president and ceo of SCEA. "The introduction of the 80GB PS3, the new pricing for the current 60GB model, the availability of more than 100 new software titles this fiscal year and, finally, the expansion of services for PlayStation Network, will provide even more options for users and will help bring new consumers into the PS3 fold."