The most recent data from the United States, for the month of July, has seen PS3 sales slump to almost a two year low, and this has forced Sony to take action by immediately dropping prices on PS3s in many regions around the world.
Announcing the price cut at Gamescom 2011, the 160GB model of the PS3 will now retail at USD$249.99 - an immediate price drop of USD$50 that has already seen the console become a top 3 seller (in the 'Video Games' section) on Amazon.com after a 400% sales spike. A similar USD$50 price drop applies to the 320GB version of the console.
In the UK, the 160GB will now be £199, with the 320GB console costing £249. In Australia, a huge AUD$150 price drop will occur for the 160GB model, pricing it now at AUD$349. But even after price drops, PS3 consoles in these areas are still far more expensive than in the U.S., up to USD$100 in Australia for example.
Sony will be hoping this will be exactly what's needed to boost flagging PS3 sales. The company also took the opportunity to announced a new less expensive version of the PSP, which will lack Wi-Fi connectivity.