US NEWS: Sony announces price cut for PS2, but not PS3

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Sony PS3

Sony said it would make a major announcement this week, which is what prompted rumours that the PS3's price (£299) might be realigned to bring it closer to that of the highly successful Nintendo Wii (£180) and Xbox 360 (from £129-£229).

In fact, it's the company's last-generation console, first introduced in Japan nine years ago, that comes down in price. There will be a similar drop in Europe, with the price falling from 130 to 99 Euros, but in the UK the PS2 remains steadfastly at its current price of £94.99. Blame the exchange rate.

Jack Tretton, president of Sony Computer Entertainment America, says: "Demand for PS2 remains strong throughout the world, and the new $99 price point will will bring in new consumers who will discover how PlayStation platforms are an outstanding choice for their gaming and home entertainment needs."

Industry experts are still speculating that a PS3 price cut could be announced at the E3 Expo in LA on June 2-4.