PlayStation 3 Price Reduced

The price tag of the PlayStation 3 of Sony (NYSE:SNE ) was recently reduced by $50 by the company. With this reduction, the PlayStation 3 now has a price tag of $249 for its 160GB version while the 320GB version is now priced at $299.

The reduction of the price of the PlayStation 3 of Sony is completely uncomplicated. Aside from this reduction on the price tag of the console, the company is also bringing to the market a limited edition of the 320GB PlayStation 3 with Infamous 2 at a price tag of $299. Despite this inclusion, no other items are being bundled by the company into its gaming console.

Even as the PlayStation Move was not bundled with the PlayStation 3, reports have given indications that the company is set to offer the PlayStation Move bundled with a game within the year. Some reports have also indicated that the PlayStation 3 may be offered with a game as well as a 3D TV that has the PlayStation brand by fall.

As Sony reduced the price of the PlayStation 3, observers are now looking to Microsoft (NASDAQ:MSFT ) on whether it will follow suit with the Xbox 360. The 4GB version of the device is currently priced at $200 and when it is bundled with a 200GB hard drive or the Kinect, the price goes up to $300.

Then again, the console market in the United States is currently dominated by Microsoft which will reduce the chances of seeing a reduction of the price of the Xbox as of the moment. Some have indicated that Microsoft may try to increase the sales of its Kinect in order to anticipate the increase in its software during the holidays.

The price of Wii of Nintendo (TYO:7974 ) was reduced earlier by the company to $150 although some observers have indicated that additional price cuts or more bundles may be offered by the company during the holidays.

With the early reduction of the price tag of the PlayStation 3, Sony is anticipating the deals that may be offered by Microsoft and Nintendo. It has been around two years since the price of the PlayStation 3 was reduced in 2009 which also included free games when retailers sold the console during the holidays.