Sony cut the price of its 60GB PS3 console in advance of that week’s E3 Business and Media Summit, which finished Thursday in Los Angeles. The company additionally announced a new 80GB system for $499, next announced that the price would be cut $100 by fall. While news reports have emphasized the price drop, Sony tried to highlight other aspects of the PS3 experience, including the ability of PlayStation Home subscribers to download movies and inhabit virtual online communities.

In

trailers posted on its site and shown at E3, Sony demonstrated the 3-D virtual communities, explaining that users can belong to multiple game worlds using realistic, customizable 3-D avatars. The company additionally hyped its new on-line movie downloading service through the PlayStation Network.

Catch-Up

The price move may revive Sony’s competitive edge in the video-game console market. Industry forecasters expect that market to be worth more than $10 billion by 2010. […]

Orginal post by Top Tech News