Sony drops price of PS2 to $129.99

As expected, Sony has announced that it is dropping the price of its PlayStation 2 console from $149.99 to $129.99, effective immediately. This price drop comes in the wake of the announcement that the PS3 will be available starting in October, which was expected to decrease demand for the aging PS2. Beginning April 27, print and online advertising promoting the new price will be run in newspapers all across the country and on major websites such as AOL.com. To date, more than 101 million PS2s have been shipped worldwide, and the console enjoys a 55.6% market share, something Sony is hoping will translate into similar numbers for the PS3.

"While we continue to innovate and design groundbreaking new products, we remain dedicated to our long-term vision for the PlayStation 2 platform," said Kaz Hirai, president and CEO, Sony Computer Entertainment America. "Now even more consumers, as well as casual gamers, can experience what the PlayStation 2 platform has to offer — an unrivaled combination of the largest selection of software, a growing community for online gaming and one-of-a-kind accessories such as EyeToy(TM) — at a new value price."