Sony Cuts Price of PSP By $30, Now $170


Sony announced yesterday that it will lower the price of its PSP gaming device by $30 to $170. Most gamers and industry buffs speculate this is due to stiff competition from Nintendo's Wii console.

It's the first time Sony has officially lowered suggested retail prices on the PSP since its debut in March 2005, says Business Week.

Last month, I did a poll of geeksugar readers to see how many people play Sony's PlayStation 3 (non portable) vs. how many people play the Nintendo Wii, and 80 percent reported they favored the Wii. In February, the Wii was the top-selling console video game system with an estimated 335,000 sold, outpacing the Microsoft Xbox 360 (228,000) and the PS3 (127,000), according to The NPD Group.

So does that mean the price of other gaming consoles will continue to go down, or is this just the gamers' lucky day?

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