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Sony Reduces Price of PSP to $129.99

Beginning this Sunday February 27th, in an effort to recapture market share, Sony will be reducing the price of its PSP unit to $129.99.

Currently on the shelves at $169.99, this reduction in price is set to match the mobile gaming industry leader Nintendo DS Lite, which currently retails for $129.99.

Sony has also added 13 titles, including Assassin's Creed Bloodlines and Dissidia Final Fantasy, to its "Greatest Hits" line of games that will retail for $19.99, and a "Favorites" line that will retail for $9.99. Since the device launched in 2005, Sony has shipped 23 million PSP units to the U.S. market, and 67.8 million units worldwide.

Tim Bender, senior vice president of sales, SCEA commented, "The PSP system set the standard for complete portable entertainment and continues to be the premiere destination for gamers’ on-the-go." And, "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."

In January of this year, Sony announced a successor to the PSP. The NGP “Next Generation Portable,” which is scheduled to come out, of course, later on this year and just in time for Christmas. Sporting a new and improved display over that of the current PSP, this new device includes dual thumbsticks, 3G connectivity, a touch screen, and two cameras. As well, the PlayStation branded phone, the Xperia Play, is due on retail shelves this April.