GamesCom 2011: PS3 Price Reduced To $249

As the PS3 creeps toward its fifth birthday, Sony believes it's time to cut the console's price again. At GamesCom, they revealed that they're slashing the price of both the 160GB and 320GB models.

"I’m excited to share with you that effective immediately at retailers throughout North America, the 160 GB PS3 and the 320GB PS3 are now available for $249 and $299, respectively," said SCEA CEO and President Jack Tretton. "In addition, a limited edition inFAMOUS 2 bundle is now available at participating retailers across North America. The bundle retails for $299 and includes a 320 GB PlayStation 3, a copy of inFAMOUS 2 and a 30-day membership to PlayStation Plus."

The PS3 launched on November 11th, 2006. On launch, the 80GB model (the largest hard drive available at the time) cost $599. The high initial price for the console made things a bit rocky at first. As the price came down and the software offerings grew, though, the PS3's sales have picked up. Sony has sold over 50 million PS3's worldwide.

"While others in the space are losing steam, PlayStation 3 is gaining momentum and giving gamers everywhere more of what they want: an unparalleled line-up of exclusive games and access to the best in sports, movies and TV, all at a great value," said Tretton.

The $299 price for the 320GB PS3 means it now costs the same amount as the 250GB Xbox 360 model. The 160GB model's $249 price tag makes it a mere $50 more expensive than the 4GB Xbox 360. Gamers really looking for a bargain, though, may still opt for the $150 Mario Kart Wii bundle.

Pete Haas

Staff Writer at CinemaBlend.