Sony Cuts PlayStation 3 Price - TheStreet

Sony Cuts PlayStation 3 Price

The 60GB console will cost $499.
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Electronics giant

Sony

(SNE) - Get Report

has decided to cut the price of its PlayStation 3 game console by $100, giving the company's shares a lift early Monday.

The reduction applies to the 60-gigabyte PS3 and will take the price to $499. The new price is effective immediately in North America.

Shares of Sony were gaining 0.6% to $53.45 ahead of the open.