Sony to Offer 250GB PlayStation 3 for $350

Following a price cut in September for its 120GB PlayStation 3 gaming console, Sony Computer Entertainment America on Oct. 15 announced a new PS3 system with a 250GB hard drive that will hit store shelves on Nov. 3. The PS3 250GB system has the same design and features as the 120GB system, but with a 250GB built-in hard drive and a cost of $349.99. The console is currently available as a preorder through online retailer Amazon.com.

"The PS3 platform is poised for a tremendous holiday season," said Scott Steinberg, vice president of product marketing for SCEA. "We kicked things off early with the new price point and sleek form factor and have continued the momentum with this week's launch of the universally acclaimed exclusive, 'Uncharted 2: Among Thieves.' The new 250GB PS3 provides consumers with another compelling hardware option and speaks to the growing consumer appetite for digital content from the PlayStation Network—particularly [high-definition] content that showcases the power of the PS3 system."

Sony's PS3 price cut earlier this year was coupled with the unveiling of a sleeker, less bulky console design and revamped interior architecture. Sony said the internal design architecture of the new PS3 system, from the main semiconductors and power supply unit to the cooling mechanism, had been completely redesigned in order to craft a more compact console. Compared with the very first PS3 model with a 60GB hard drive, the internal volume as well as its thickness and weight were trimmed down by approximately two-thirds.

Nintendo is also gearing up to keep its popular Wii console competitive during the holiday season, announcing that it would reduce the price of the Wii by $50 to $199.99 on Sept. 27. Microsoft also recently lowered the price of its Xbox 360 gaming platform by $100, to $299.99. The company's director of product management for Xbox 360 and Xbox Live, Aaron Greenberg, was quick to say in an interview with GameInformer that despite Sony's similar price points, Microsoft is confident the Xbox will win the console wars in the long run.

"What I can tell you is we remain confident that Xbox 360 will not only outsell PS3 for the full calendar year, but for this entire generation," Greenberg told GameInformer. "It is similar to a game of baseball; it is not about just winning one inning, but instead being able to win the game by consistently delivering across all nine innings."