Sony to launch new PS3, price cuts

Sony Corp.'s game division said Tuesday it will slash prices of its PlayStation 3 game consoles in Japan by about ¥5,000 next week in step with the launch of a new model equipped with a 40-gigabyte hard disk ahead of the yearend shopping season.

Sony Computer Entertainment Inc. said it will launch the new PS3 on Nov. 11 at a suggested retail price of ¥39,980, cheaper than the two existing models.

With the introduction of the 40-GB PS3, the 60-GB version will have a suggested retail price of ¥54,980, while that for the 20-GB version will be ¥44,980. The price cuts will be effective Oct. 17.

The 60-GB model has been priced at about ¥59,980 while the 20-GB model has been going for ¥49,980, the company said. Both models hit Japanese store shelves Nov. 11 last year.

The launch of the new PS3 model and the price cuts come at a time when Sony is still struggling to expand sales in the face of tough competition from Nintendo Corp.'s popular Wii and Microsoft Corp.'s Xbox 360.