Sony confirms PlayStation 3 price drop

By on July 9, 2007, 9:44 AM
Despite Sony officials were denying recent price drop rumors stating that the company had no immediate plans for one, the console maker today officially confirmed it has cut the price of its 60GB model of the PlayStation 3 by $100, bringing it down to a $499 price point – only $20 more than the most expensive version of Microsoft's Xbox 360 but twice the price of Nintendo's Wii console.

In addition to the much needed price drop, Sony announced that a new PlayStation 3 model with an 80GB hard drive, packed in with a full version of racing game MotorStorm, is expected to hit retail shelves in August for $599.

"Our initial expectation is that sales should double at a minimum," Jack Tretton, chief executive of Sony Computer Entertainment America, said in an interview. "We've gotten our production issues behind us on the PlayStation 3, reaching a position to pass on the savings to consumers, and our attitude is the sooner the better."
The PlayStation 3 has lagged in sales behind rival consoles since its launch. Nonetheless, Sony’s move comes as Microsoft’s Xbox 360 is inundated with reports of widespread product failures, allowing Sony a good chance to gain customers. Microsoft announced last week that it would extend the 360's warranty to 3 years, spending up to $1.15 billion to repair the machines.

User Comments: 5

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Nick Lee said:
It is about time. Maby if they had done this earlier, they could have sold more than they already did. I mean yeah it would be at a loss, but there sony. They can pay for it.
Canadian said:
They have lost enough already, they might as well drop the price, raise the user base, and try to make their money off accessories and games.
If Microsoft Price drops the Xbox 360 like the month Halo 3 comes out, its gonna be madness again and crappy for PS3 again. Microsoft has to be planning something like that for their best interest.
Julio said:
This was needed if Sony wants to turn up the sales volume, that said, the price drop will appeal mostly gamers who were deciding between a new Xbox and a PS3 console... the Wii seems to have captured people's attention differently, although as a Wii owner myself, the novelty of Wii Sports seems to be the major driver toward new console sales, and in my case that novelty ran dry pretty quickly. I'm now back to my PS2 for playing specific games that I like.
Fornacis said:
I've been eyeing the PS3 ever since launch. The XBox 360 has problems of its on, and entered the market way early I think to beat Sony to the customer base. I mean...ppl wanted something new, and there was Xbox360. The PS3 does suffer some from not having games just for PS3 (FFantasy, Grand Turismo, etc.) but these will be coming soon. The PS3 is way more powerful than any of the other two, and will better down the road I think. I mean .. look at XBox 360, they are already looking into a different processor and other tweaks on the new units, so what about the customers that bought the first model unit? Not fair I say. I would love to have a Wii but with my PS1 and PS2 game library buying the PS3 is the best deal overall. I don't have to make room for another Console.
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