Justin Lee On April 20, 2006 at 9:30 am

Looks like analyst that predicted the price of the Playstation 2 would drop at the end of April was true! Sony has cut the price of the PS2 by 13% effective today, so if you were holding out to get a Playstation 2 now is the time before the Playstation 3 comes out at the end of this year.

Sony Corp. on Thursday said it cut the U.S. price of its popular PlayStation 2 video game console by about 13 percent, saying the discount should help fuel demand.

In a statement, the company said that effective immediately the PlayStation 2 computer entertainment system would retail for about $130, down from a previous price of around $149.

Analysts have been waiting for a price reduction on Sony’s market-leading video game console ahead of the expected release of its new PlayStation 3 in November. Sony has kept mum on the price of its new system, due in stores in November.

Rival Nintendo Co. Ltd (7974.OS) is also slated to release its next-generation machine, code-named Revolution, this year.

Video game console makers typically reduce prices to spur demand, particularly as a device ages or ahead of the launch of a new model.

PlayStation 2, first introduced in 2000, has shipped over 101 million units and dominates the interactive game console market, despite the introduction last year of Microsoft Corp.’s next generation device, Xbox 360. The more popular premium Xbox 360 system retails for $400.

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