Sony Announces 10 Percent Price Cut For Japan's PS3

October 9, 2007 11:56 a.m. EST

Tokyo, Japan (AHN) - In a bid to catch-up with Nintendo, Sony of Japan announced Tuesday it will cut by 10 percent the price of its standard PlayStation 3 game console. The company also intends to slash the price of another PS3 and introduce a low-priced version.

Starting Oct. 17, Sony's 20-gigabyte PS3 will cost $384, or 44,980 yen. A 60-gigabyte PS3 will cost Japanese consumers 54,980 yen, or $469.

Sony also said it will unveil Nov. 11 a 40-gigabyte PS3 for 39,980 yen, or $341. The new console, already announced for Europe, can't play PS2 games.

The AP said Sony sold 710,000 in the three months ending in June, compared to 3.43 million Nintendo Wii game consoles..