Sony's Big Announcement Is a PlayStation 2 Price Cut

During the last few days, a flurry of rumors and speculations appeared on the Internet regarding Sony's big announcement, which was made yesterday. From the much awaited PlayStation 3 price cut to the introduction of new features for the PlayStation Portable to even the announcement of a new console, everyone believed that the Japanese company would reveal something groundbreaking.

But, to the disappointment of a lot of people, the rumor that we presented yesterday, regarding a price cut, not for the PS3 but for the 10-year-old PlayStation 2, came true, as the Japanese company revealed a 30-dollar decrease from the old 129-dollar tag.

“PlayStation 2 set the industry standard for worldwide mass market adoption and is a clear embodiment of Sony's commitment to platforms that deliver 10-year product lifecycles. It's a tribute to outstanding technology, great consumer value and unprecedented development support that we've now been able to do twice what no one else has ever accomplished,” said Jack Tretton, president and CEO, SCEA.

He added that “Demand for PlayStation 2 remains strong throughout the world, and the new $99 price point will bring in new consumers who will discover how PlayStation platforms are an outstanding choice for their gaming and home entertainment needs. Just as PlayStation 2 is delivering on a 10-year lifecycle and helped expand and solidify the DVD format for home entertainment along the way, we believe PlayStation 3 offers the same promise by helping secure the Blu-ray format and delivering unprecedented value as the total home entertainment solution for the next decade.”

This price cut will be made in the North American and European territories, with prices going down to 99 dollars or euros, depending on your location. UK residents, on the other hand, will still have their PS2 consoles priced at 99 pounds, as the fluctuating value of the pound has made the Japanese company take extra precautionary measures.

What do you think? Does this price cut make you wanna buy a new PS2 or replace your old console? Leave us a comment with your thoughts.