said Tuesday that it has slashed the price of the 160GB version of the PlayStation3 (PS3) computer entertainment system by $50 to $249.
At the same time, the company will also reduce the price of the 320GB PS3 version by $50 to $299.
The new pricing is effective immediately for North America and Europe/PAL territories, and starting Aug. 18 for Japan.
Since its release in 2006, PS3 has achieved a worldwide sales milestone, surpassing 50 million units.
Sony said the new pricing will make the platform more accessible while broadening the appeal to a wider audience looking to buy the best entertainment system for their home.
As of June 30, the worldwide cumulative number of BD software titles for the PS3 system exceeds 2,495 titles and downloadable PS3 games available on PlayStation Store exceeds 3,100 titles.
Of these titles, more than 120 titles are stereoscopic 3D supported and 200 titles are PlayStation Move dedicated or supported.
Hot forthcoming gaming titles for the platform include Madden NFL 12 and Battlefield 3 from Electronic Arts; Call of Duty: Modern Warfare3 from Activision; Assassin's Creed Revelations from Ubisoft; Resistance 3, The Ico & Shadow of the Colossus Collection, Ratchet & Clank: All 4 One, and Uncharted 3: Drake's Deception from SCE; and more.
The PS3 system provides free access to PlayStation Network, which offers a growing portfolio of entertainment services for streaming high-def movies, TV shows and sporting events. In North America, streaming services include Hulu Plus, MLB.TV, Netflix, NHL GameCenter, Vudu and others.
PlayStation Network also features downloadable content from Discovery Channel, ESPN and HBO, and exclusive games, including the PixelJunk series and Journey.