Gamers weren't happy. "Sony dropped the price of the wrong PlayStation," one online commenter lamented. "Will Microsoft slash the price of the original Xbox?" another sarcastically questioned, referencing the rival PS2 system that bit the bullet four years ago.
While dropping the price of the PS2 might not have been in the best interest of gamers hoping for a PS3, it was the right move for Sony's bleeding balance sheet, says market researcher David Cole of DFC Intelligence.
"Obviously everyone wants a PS3 price drop, but profitability is essential for Sony to continue funding the business," Cole says. "The longer they can keep PS2 alive, the longer they have for the PS3."