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Sony said Tuesday it will cut the price of the PlayStation Portable (PSP) game device by $30, from $199.99 to $169.99. Unfortunatley, the price drop is only for the US.

Sony also added two new games to its $20 Greatest Hits program with Daxter and Syphon Filter: Dark Mirror joining the collection of half-price first-party and third-party games.

Another positive factor is the increasing availability of better and cheaper PSP games. With the price cut and marketing aimed at the male teen demographic, Sony should be able to increase penetration of the PSP, and should try to leverage PSP to upsell PS3.

The unprecedented success of the Nintendo DS left the Sony PSP in a tough bind. Would-be owners have been clamoring for a PSP price drop since early last year, but Sony consistently denied any such possibilities. Some developers began to consider scaling back their support for the handheld, which may have been one of the motivating factors behind today's price drop.