Sony to cut prices of Sony Playstation 2?

As per market analysts, Sony is planning to cut the prices of their Sony Playstation 2 gaming console sometime later this month. Lazard Capital Markets analyst Colin Sebastian said in a statement that as per their information, Sony is expected to cut the price of its popular PlayStation 2 video game console by 13.4 percent before the end of the month

He wrote in a client note: “Our industry checks indicate that Sony is planning to cut the PS2 price to $129 from the current $149 before the end of this month.”

Sony has officially decline to comment on this market rumor. Market has been abuzz with such rumors ever since the launch of the competing Microsoft Xbox 360 gaming console in the market last year in November. Sony is yet to come out with their next generation gaming console, the Sony Playstation 3.

Sebastian added: “Hardware price cuts are necessary not only to drive demand at the end of a console cycle, but also to bring the current-generation consoles within reach of more value-oriented customers.”

He added that Microsoft could also consider reducing the price of their earlier generation gaming console, Microsoft Xbox.