Sony has decided to slash the prices of its PSP Go handheld gaming device ahead of the upcoming holiday season.
The price cuts, which will be applicable to all PSP Go devices sold in the US and Japan, come after the company registered disappointing sales for the handheld gaming device.
According to the company, the PSP Go console will be available in the US for $199, shedding its $249 price tag. In Japan, the customers will be able to buy it for 16,800 yen, down from the original price of 26,800 yen.
Analysts believe that the PSP Go price cuts might be related to the rumoured Christmas 2011 launch of PSP 2, which will give direct competition to Nintendo's 3DS handheld console that allows users to play 3D games without the need to wear special glasses.
The dwindling sales of the PSP device are a testament to the fact that users are not satisfied with it. A recent survey had determined that the PSP was the most returned device, beating the iPad, iPhone 4 and Xbox 360 to the top spot.