The 5-year-old PS3 will now cost $249. A similar price cut in 2009 gave the hardware a much-needed boost, which Sony would welcome again as the system is not getting any younger.
Microsoft isn’t commenting on Sony’s move, and The Associated Press quoted an analyst who says we should not expect their Xbox 360 to drop in price any time soon as the company observes market reaction.
Sony’s gearing up for the release next year of its next-generation handheld system, the Vita. Nintendo also has new hardware on the way: the Wii U. It’s also still recovering from a disastrous security breach in its PlayStation Network online service, which of course was just the tip of the iceberg in a summer of security breaches.