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Sony Drops PS3 Price By $100

New York – Sony today hacked $100 off the price of its PlayStation 3 and introduced a new higher capacity model.

With the price reduction the PS3 is selling for $499. The new model features an 80GB hard drive, the original uses a 60GB version, and will carry a $599 suggested retail price. It is expected to be available in the United States and Canada in August, according to published reports.