Sony Cuts Prices On PSP Handheld Devices
April 3, 2007 – 4:11 pmby Darren
The battle of the video game companies continues. Now it’s Sony that has made a move, by cutting the prices on its’ PSP handheld video game devices.
“The PSP needed a price cut to reinvigorate the market. Wal-Mart (WMT.N: Quote, Profile, Research) sold the PSP for $169 for five hours on Black Friday — a time in which we believe the company was able to sell over 100,000 pieces of hardware,” BMO Capital Markets analyst Edward Williams said in a client note.
The PSP is in its third year of production, and lately has been outshined by the popular DS.
The plan is that this move should re-invigorate the market, getting more consumers to buy game devices of all types. This could even be a boost for rival companies.
Resource: Reuters>
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