On the heels of Microsoft’s $50 price cut for the Xbox 360, Sony has announced a price cut of $100 for its 80GB flagship PlayStation 3 and said it is dropping the 40GB version of the PS3.

On Monday, Microsoft cut the price of its Xbox 360 video-game console with a 20GB hard drive to $299 from $349 with the caveat “as supplies last,” which could mean a clearance sale in advance of the August debut of its new model

with a 60GB hard drive for $349.

Sony responded by slashing the price of its PlayStation 3 with a 80GB hard drive from $499 to $399. The PS3 is now right in the middle amoung the $449 Xbox 360 Elite with a 120GB hard drive and the $349 60GB Xbox 360.

Sales Drive Price Cuts

Certainly a downturn in sales and reported losses for both Sony and Microsoft have […]

Orginal post by Top Tech News