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Sony Announces PlayStation 4 Price Drop, Holiday Lineup

Sony SNE announced Thursday that it will be lowering the base price for its PlayStation 4 (PS4) system, as the company rolled out its holiday console deals in a blog post . Starting tomorrow, shoppers in the U.S. and Canada will be able to pick up a PS4 for $349.99 USD, down $50 from the current price.

"Our goal at PlayStation has always been to provide the best gameplay experiences at the best value, and we feel this new compelling price will open the doors to even more gamers that have yet to purchase a system," said John Koller, VP of Platforms Marketing for Sony America.

Sony also detailed the prices of several console bundles, including three limited edition Star Wars packages. Heading into the holiday season, Sony's PlayStation 4 now starts at the same price as its main competitor, Microsoft's MSFT Xbox One.

Today's announcement marks the first price drop for the PS4 in its nearly two year history. Released in November 2013, the PS4 will be entering its third holiday season on shelves. This time of year can make or break sales for video games and consoles, and Sony is clearly trying to ensure a strong sales season.

Sony will be looking to continue the success of the PS4, which has outsold the Xbox One by a nearly 2:1 ratio. Through the first quarter of fiscal 2015, Sony has sold a total of 25.3 million units.

The PlayStation business is now Sony's biggest money maker. The division was responsible for $160 million of the company's $676 million in net income, and $2.365 billion of its $15 billion in revenue. Currently, SNE holds a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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