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Sony cut the price of its Playstation 3 console in the US and announced an even cheaper model that will arrive before the holiday shopping season.

The top-line Playstation 3 model, with an 80GB HD, now costs around 500USD, reduced by around 100 USD that effectively eliminates the lower end model costing 500USD.

Thus, a new lower end model, with a 40GB HD will be in stores in November 2^nd for just around 400 dollars. Unlike the other models this one won’t be able to play playstation 2 game. Sony says, this was due to a more extensive lineup of games for the Playstation 3.This launch was widely expected in the US, after Sony announced it in Japan Europe. It does narrow the price gap compared with the rest of the game consoles though still the most expensive. XBOX 360 costs $350 and the Nintendo Wii costs $250. Sony has sold a whooping 5 million ps3’s since they went on sale in November last year.

Source: Y! News

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