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Price Of Sony PS3 Gaming Console Crashing To £165

The price of the PlayStation 3 gaming console is set to drop down further and potentially spark a price war after Tesco slashed £24.99 off the suggested retail price of £199.99 and is giving an additional £10 discount using the eCoupon code TDX-MNGK.

That price cut makes the 160GB Sony PS3 Console cheaper than the Xbox 360 250GB which Tesco sells for £189; in addition, customers stand to earn 350 Clubcard points worth £3.50 instore at the supermarket giant.

The move by Tesco comes against the backdrop of the recent adjustment by Sony of the price of the PS3 to £199.99.

The console comes with a Blu-ray reader, one wireless gaming controller and has for long been viewed as a loss leader as Sony bet on games sales to subsidise the hardware.

Things are now changing rapidly with the arrival of newcomers like more powerful smartphones, tablets and innovative new gaming consoles like Onlive which threaten to topple the current incumbents.

Sony has already confirmed that it is not planning to launch a Playstation 4 console anytime soon, instead relying on the PS3 as its only tethered gaming platform for the foreseeable future.

That future though sounds bleak with the PS Vita, and the soon-to-be launched Sony Tablet S and the Sony Ericsson Xperia Play 2 likely to give PS3 owners a much wider choice of platforms.