Sony cuts PS3 price, makes slim model official

Gaming, PlayStation 3
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Image: Kotaku

Sony today announced it is slashing the price of its 80GB PlayStation 3 gaming console from $399 to $299, and introducing a slimmer 120GB model in September that will also cost $299.

The PS3, which debuted in 2006, has come a long way from its original $599 pricetag. Is reality finally catching up with the video games industry, once deemed recession-proof?

Nintendo is the only company that hasn’t budged on its console prices, but the speculation is that won’t last for long: Sales of the $250 Wii dropped last month for the first time since it launched three years ago, and recent software lineups just haven’t been living up to expectations.

Microsoft dropped the Xbox 360’s price ($80 or $50, depending on the hard drive configuration) around this time last year.

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