Sony cuts price of PS3 in North America amid weak sales

Sony (NYSE:SNE) Corp has slashed the price of the 60-gigabyte model of its PlayStation 3 game console in North
America by 100 US dollars to 499 dollars, the game unit of the Japanese electronics giant said Monday.

The new price took effect Monday, Sony Computer Entertainment Inc said.

The price cut comes as Sony struggles to recover its once-mighty position in the global video game market where competition has heated up since Microsoft Corp (NASDAQ:MSFT) launched the Xbox 360 in 2005 and
Nintendo Co introduced its Wii last November.

Earlier Monday, Microsoft Japan CEO Darren Houston said the US company has been offering competitive prices for its Xbox 360 in Japan and will continue to make the product competitive in the hotly contested Japanese market.

(1 US dollar = 123.62 yen)
yumiko.nishitani@thomson.com
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