Sony lowers Playstation 2 price to $99

Chicago (IL) – Sony had claimed it would be making a big announcement this week, but didn’t give consumers any hints. Speculators and analysts assumed we’d be seeing a significant decrease in the price of the PlayStation 3. What Sony has now unveiled does not involve the PlayStation 3, but instead the PlayStation 2. The company plans to reduce the consoles price by about 25 percent, down to $99.

The PlayStation 2 shows Sony’s dedication to supporting game systems for as long as ten years. The device will now be offered for $99, which is down from $130 previously (23.8% reduction in price).

SCEA president and CEO Jack Tretton stated that the ten year success of the console is a “tribute to outstanding technology, great consumer value and unprecedented development support”. He said, “Demand for PlayStation 2 remains strong throughout the world, and the new $99 price point will bring in new consumers who will discover how PlayStation platforms are an outstanding choice for their gaming and home entertainment needs.”

The PlayStation 2 console launched in Japan nine years ago, and has sold over 136 million units worldwide. The company claims the consoles software library continues to grow, and that the SCEA and its publishing partners have plans to add an additional 1,900 games to the system this year alone.

Even though the company has launched a more advanced PlayStation 3 console, the PS2 has remained a strong force in the game system market. The company claims the price cut is due to reductions in the cost of technology utilized in the device and manufacturing improvements which allow Sony to consolidate components together onto chips which are more highly integrated, costing Sony less as well.

Sony’s financial year ends on Tuesday and the company plans to sell 8 million PS2 devices, and 10 million PlayStation 3 consoles.