Sony Cuts PS3 Price in Japan, to Debut 40GB Model

While Sony has no plans to bring the 40GB PlayStation 3 to the United States, the model is making its way from Europe to Japan. The company said the mid-range model, which unlike its brethren lacks support for PS2 games, will go on sale November 11 for 39,980 yen ($342).

In the process, Sony will drop the price of its 20GB PS3 by 10 percent as of October 17, bringing the cost down to 44,980 yen ($384). The 60GB model will also become cheaper, selling for 54,980 yen ($470). Sony is phasing out the 60GB PS3 as part of the price drops, which are being made in preparation for the holiday season. The high cost of the PlayStation 3 has hindered its ability to compete with the Nintendo Wii and Microsoft's Xbox 360.