Sony cuts Playstation 3 price - WMC Action News 5 - Memphis, Tennessee

Sony cuts Playstation 3 price

(CNN) - In an effort to boost sales of the aging Playstation 3, Sony is cutting the consul's price by $50.

Consumers can now pick-up a base model for $250.

A system with twice the storage space will cost $300.

Sony's price reduction is seen by analysts as part of a game system's normal life cycle.  

Game console generations typically last four to six years. The Playstation 3 has been around for five.

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