Sony Cuts PS2 Prices in Japan

Need a sign the eagerly anticipated, high-end PlayStation 3 may finally be coming to market? Sony's cut prices on existing PlayStation 2 consoles in Japan.

Sony Corporation said today is would be cutting the suggested price of its existing PlayStation 2 game console in Japan by nearly 20 percent to just ¥16,000 (just under $140 US) on September 15, as it gets ready to launch its next-generation PlayStation 3 console in November.

Speculation about the number of PlayStation 3 units Sony may have available at launch has been running wild the last few weeks, with industry rumors saying Sony hasn’t even begun to manufacturer the systems yet, and that as few as two million systems may be available worldwide when the product launch. If true, the launch of the PlayStation 3 could prove to be as much of a debacle as the PlayStation 2—although now nearly forgotten, the launch of that game console earned Sony much ill-will amongst consumers as product shortages converted pent-up demand to outright anger.

Since then, Sony has sold more than 100 million PS3 systems worldwide. The PlayStation 3 is currently scheduled to debut in Japan November 11, with availability in much of the rest of the world November 17. However, the comparatively high costs of the PlayStation 3—U.S. prices are expected to range from $499 to $599, the highest price of any console game system to date—may serve to dampen initial enthusiasm or the console, enabling Sony to launch with comparatively few units on hand.