Sony Confirms Playstation 3 Price Cut To $249

By Chloe Read on August 16, 2011, 3:47PM EST

To wrap up their press conference at GamesCom 2011, Sony dropped a $50 bomb on the PlayStation 3, dropping its price to a much more affordable $249 in North America and €249 in Europe.

SCEE President and CEO Andrew House revealed the new accessible price to the console was to be "effective immediately" but only covers the 160GB model. It is not yet known if the price drop will also stretch across to other versions of the console.

As Kevin Butler puts it on his Twitter feed: "There are now 50 less excuses for not owning a PS3".

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