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Report: Sony to cut price of PlayStation 3

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Sony will lower the price of its PlayStation 3 in Japan, the Kyodo News agency reported Friday. Sony will reportedly cut the price to 49,980 yen ($430), from an originally planned 62,790 yen ($536). Kyodo cited Sony executive Ken Kutaragi. No further details were available, though the move would obviously be based on growing complaints of Sony's pricing on the upcoming console.

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