Sony PS2|PS2 price cut|PS2 price drop|Sony slashes PS2 prices|PlayStation 2 price cut
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Sony has reduced the price of its PlayStation 2 by one-third to $199 effective immediately. The company also cut the price of its PS1 console, the original PlayStation, from $99 to $49. In addition to the PS2 price reductions, Sony is reducing the price of memory cards and controllers for the console by $10 to $24.
Microsoft also is expected to announcethe same kind of price cut for X-Box early next week at the E3 Annual Trade Show of the gaming industry.
Sales are expected to continue to rise for the next few years as more people buy the new consoles. Sony has shipped 30 million PlayStation 2 units worldwide and 7.9 million in the U.S., so far. With the latest price cut, the company is aiming to expand its U.S. market base by another 8 or 9 million.
A PS2 price cut could be a welcome shot in the arm for the gaming industry, which has seen revenues decline steadily in the recent months as the transition to new console technologies begins.
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