Sony Corp. said Tuesday it is cutting the price of the console by $100, bringing the 80-gigabyte version to $299 effective immediately. A slimmer PS3 with a larger hard drive launches in a few weeks, also for $299.

Riccitiello says the price cut was a "great move," and he praised Sony for not leaving it to right before Christmas or Thanksgiving.

Consumers will likely be bombarded during the holiday season with an onslaught of messages from companies selling everything from DVDs to TVs to cell phones, he says. Doing the price cut in the middle of August instead "really stands out."

http://www.chicagotribune.com/business/sns-ap-us-tec-ps3-ea,0,2154652.story

Nice, i buy a PlayStation 3 =)

I wonder how activison will react probably something like "Well we commanded Sony drop its price and they did what we told them..." Something like that.

Of course he loves it, Madden just released.

now give us mass effect

See EA aren't evil like Activison, they are happy for Sony's success because they know it means good things for them, especially with FIFA coming in October

Ps3 is awesome^^

Activision is happy xD

Euphoria14 said: Of course he loves it, Madden just released.

It's offical...come a ps3 bundle with madden? I think: No..

a company says something good about sony.... i feel sick

I didn't jknow Slim was going to have such a large hdd. I thought it would probably have a 40 for $299, but that is awesome news indeed!

We all know why MS is phasing out pro (because 60gb is not really enough space to install ffxiii and probably mgsraiden in PS3 quality and blu-ray disc size for those games).

fixed.