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Sony Cuts European Prices for PlayStation Portable by 24%

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April 8 (Bloomberg) -- Sony Corp., the world’s largest exporter of consumer electronics, cut European prices for its PlayStation Portable video-game player by 24 percent.

The PSP player will have a suggested retail price of 129.99 euros ($187.29) beginning today, Sony Computer Entertainment Inc. said in a statement on its website. The price was cut to $129.99 in the U.S. in February.

“The price cut is aimed at increasing adoption of the player in Europe,” said Satoshi Fukuoka, a Tokyo-based spokesman at Sony’s video-games unit. The previous suggested retail price was 169.99 euros.

Sony, based in Tokyo, competes with Microsoft Corp., maker of the Xbox, and Nintendo Co. in the gaming market. Sony may stagger the global release of its next-generation PlayStation Portable game machine, codenamed NGP, after the earthquake and tsunami that hit Japan last month disrupted production.

The new PlayStation Portable may be introduced in a single region this year, rather than starting in multiple markets in time for the end-of-year holiday shopping season, Jack Tretton, president of Sony Computer Entertainment of America, said April 5. He declined to say which region may offer the device first.

To contact the reporters on this story: Chiara Remondini in Milan at cremondini@bloomberg.net; Pavel Alpeyev in Tokyo at palpeyev@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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