PSP Price Lowered by Sony

PSP Price Lowered by Sony

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Sony has stated that they are dropping the price of the PSP Core Pack by $30 (approx. Rs. 1335). It will now cost $169.99 (approx. Rs. 7560). The Core Pack, which consists of a system with AC adaptor and battery used to retail for $199.99 (approx. Rs. 8900).

PSP Price Lowered by Sony

Analysts are happy with the PSP price cut by Sony. According to Lazard Capital Markets’ Colin Sebastian, “We anticipate a modest step-up in PSP unit sales during an otherwise seasonally slower period for the video game industry. We note that a Wal-Mart promotion on Black Friday last year generated significant sales volume for the PSP at a discounted price of $169, providing one hint of potential consumer demand”

However, even though the PSP is priced at $169.99, it is still more expensive than the Nintendo DS, which is being sold at some outlets for just $130 (approx. Rs 5800). The DS outsold the Xbox 360, Wii and the PS3 in February 2007. I am still wondering whether Sony has cut the price as part of the portable system’s second anniversary or whether is it paving a way for the PSP 2.

The PSP price cut is just in North America and Sony has not revealed anything about the PSP price reduction in Europe and UK.