Sony to cut PS2 by £100 in September

Sony have dropped plans to cut the price of the PlayStation 2 by $50 / £50 across the globe at E3. The current target for the aggressive price drop is thought to be September of this year. Previously it was whispered that Sony would grab headlines at E3 by slicing $50 off the price of the PlayStation 2 in the USA, and £50 in United Kingdom / Europe, but now reports in this week's MCV suggest that the consumer electronics giant will hold off until Q3 when it will unleash a massive $100 / £100 reduction across the globe. With the Xbox and GameCube coming along full steam for Q3/Q4, an aggressive price drop would put pressure on the competition to perform. Cutting the price now would do very little for the company, but by holding off until the Xbox is in full view, the company could do some serious damage. One analyst also commented that the "still-scratchy inventory situation wouldn't respond well to a cut now". With increased inventory and competition online for September, they're "better off waiting". Sony's presence at E3 is more likely to be in software than hardware. Although the mythical PS2 broadband plans would be a fantastic thing to show off, it's difficult to say whether or not Sony will chance its arm with those unless significant steps have been taken with the infrastructure in the USA. On a related note, rumours this week suggest Sony is in talks with a UK cable provider about broadband over here - roll on E3 2001. With a strong Dreamcast software line up bound to be on display, a hefty Microsoft presence and Nintendo's make-or-break GameCube display to compete with, whatever Sony do will have to be eye-catching. We await with glee the results of the next few weeks.

Source - MCV