Sony Corp. will cut the price of the PlayStation 3 video-game console in the U.S. and Canada by $100 in a bid to double sales of the player, which has trailed rivals since its introduction last year.
A PlayStation 3 with a 60-gigabyte hard drive will sell for $499 starting today, a 17 percent discount, Jack Tretton, head of Tokyo-based Sony's U.S. games business, said in an interview. A new 80-gigabyte model will go on sale in August for $599.
Sony predicts the price cut will double U.S. sales of the player, Tretton said. The move will take customers from Microsoft Corp., forcing the Xbox 360 maker to drop the price of its $479 Elite model, analysts said. Nintendo Co.'s Wii, the top-selling console at $249, probably won't be affected.
''The price cut should take more away from Microsoft,'' said Richard Doherty, an analyst at the research firm Envisioneering Group in Seaford, New York. ''A lot of sales that would have gone to the Xbox Elite will go to PlayStation.''