Sony to Cut the Price on Playstation 3

Sony Corp. will lower the price of its much-anticipated PlayStation 3 video game console, Kyodo News agency reported Friday, as competition heats up in next-generation gaming between Sony, Microsoft and Nintendo. Sony will cut the price to 49,980 yen ($430), from an originally planned 62,790 yen ($536), Kyodo said citing Sony executive Ken Kutaragi

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