Sony Computer Entertainment America cut the price of their hand held video game system by 24% on Friday, firing a shot across the bow of competitor Nintendo just weeks before the release of their much-hyped Nintendo 3DS.
Starting February 27, the PlayStation Portable system will retail for $129.99, down from a previous sticker price of $169.99.
[SPOILER="read more"]The cut comes a month to the day ahead of the release of Nintendo’s new 3DS portable, the next iteration of the company’s wildly successful portable line. Nintendo has attracted a lot of attention for the device, which is capable of 3D gameplay without the use of special glasses. But the system’s $249.99 price tag has skeptics wondering if only hardcore gamers will come up with the cash.
By cutting the price of the PSP to close to half of the Nintendo 3DS, Sony will make gamers think twice before choosing Nintendo’s new device over Sony’s six-year-old one, and will likely make up some of the lost ground between the two competing devices.
The PSP has been no slouch in the sales department: Since launching the device in 2005, Sony says it has sold more than 23 million units in North America and 67.8 million worldwide. But the various models of Nintendo DS have far outperformed them, with more than 145 million units sold worldwide.
The price cut also helps set the stage for Sony’s own new system: Last month, the company debuted the successor to the PlayStation Portable, currently known as the Next Generation Portable. It will hit stores before the end of 2011.
Along with the PSP price cut, Sony said they would add 13 new games to the device’s lower-price “Greatest Hits” ($19.99) and “Favorites” ($9.99) software collections. The newly discounted games include Ubisoft’s Assassin’s Creed Bloodlines, Konami’s Metal Gear Solid: Peace Walker, and Disney’s Toy Story 3: The Video Game.[/SPOILER]
[SPOILER="complete announcement"] PSP® (PlayStation®Portable) System Now Offers Unrivaled Entertainment Value for $129.99
Featuring a Robust Entertainment Offering, Expansive Software Library and Accessibility to PlayStation®Network, the PSP system Continues to Deliver Great Value to Consumers
FOSTER CITY, Calif., Feb. 25, 2011 /PRNewswire/ — Sony Computer Entertainment America LLC (SCEA) today announced the PSP® (PlayStation®Portable) system will be available for $129.99 (MSRP) starting February 27, 2011. Since launching in 2005, the PSP system has sold more than 23 million* units in North America and 67.8 million worldwide, offering more than 590 engaging titles in North America as well as access to a vast selection of downloadable content from PlayStation®Network. In addition to the new price point, 13 new games will be added to the PSP “Greatest Hits” and $9.99 “Favorites” software collections, further delivering upon the PSP system’s incredible entertainment value.
“The PSP system set the standard for complete portable entertainment and continues to be the premiere destination for gamers on-the-go,” said Tim Bender, Senior Vice President, Sales, SCEA. “Nearly six years after its initial launch, demand for the PSP remains strong. This new price point enables us to broaden the PSP platform to a larger group of consumers who are looking for best-in-class handheld entertainment.”
As part of the PSP system’s extensive software catalogue are its “Greatest Hits” and “Favorites” collections. Available for $19.99 (MSRP), Greatest Hits titles have surpassed an impressive sales threshold and represent the highest caliber of quality software available on the PSP system. With nearly 70 titles to date, two of the latest additions include Assassin’s Creed® Bloodlines™ (Ubisoft), DISSIDIA® FINAL FANTASY® (Square Enix, Inc.), LittleBigPlanet (PSP®), METAL GEAR SOLID®: PEACE WALKER (Konami Digital Entertainment, Inc.), Ratchet & Clank®: Size Matters, Resistance: Retribution™, and Toy Story 3: The Video Game (Disney Interactive).
Favorites titles, valued at $9.99 (MSRP), offer some of the PSP system’s most popular games at an incredible price. New PSP Favorites titles include CRISIS CORE® -FINAL FANTASY® VII- (Square Enix, Inc. ), Daxter®, Monster Hunter Freedom Unite™ (Capcom), Killzone®: Liberation, SOCOM U.S. Navy SEALs: Fire Team Bravo, and Tomb Raider® Anniversary (Square Enix, Inc.).
Acclaimed for being the first truly integrated handheld entertainment system, the PSP system continues to deliver unparalleled gaming experiences only possible on the PSP platform while offering a wide variety of affordable entertainment options to consumers.
*Cumulative sell-in number for North American market as of end of December, 2010[/SPOILER]