Sony to cut PS3 prices in Japan and offer new model

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Sony Corp said it would cut the price of its PlayStation 3 game console by 10 percent in Japan and launch a new model, in a bid to ignite demand in the run-up to the critical year-end shopping season.

Sony said on Tuesday it would lower the price of the PS3 with a 20 gigabyte (GB) hard disk drive to 44,980 yen ($384) from 49,980 yen on October 17. It will also start selling its 60 GB model at 54,980 yen. Sony has not so far suggested a price for the 60 GB model, but it currently retails for around 60,000 yen.

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