With the release of the Playstation 3 looming, Sony today announced that they will be reducing the price of the Playstation 2 consoles in Japan, effective 15 September. In two weeks, the retail price of the PS2 will drop from 19,800 yen to 16,000 yen, nearly a 20% price cut.
The new price, which equates to about $140, will be official almost exactly two months before the Playstation 3 will be released in Japan. The basic version of the PS3 console, which is slated to launch in Japan on November 11, will retail for around 60,000 yen in Japan and $500 in the U.S.
No price cut announcements have yet been made for a North American PS2 price reduction. However, Sony dropped the price from $150 to $130 in the U.S. less than six months ago. Japan, on the other hand, hasn't seen a price cut on the PS2 for more than two years. This will be the sixth PS2 price point in Japan since the console's launch in 2000.