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Retailers in Japan Lower PS Vita Price after Sharp Sales Decline

Japanese retailers have decided to lower the price of Sony's latest hand-held PlayStation Vita after the console saw its sales dip considerably in the second week of its launch.

The console sold 324,859 units in its first week in Japan, less than Nintendo's 3DS had sold, but slipped to 72,479 units in the second week, according to VideoGamer.

Retailers in Japan have started slashing prices, some going as low as 20 percent, to boost sales of the consoles. Judging by console standards, the Vita is expensive. Perhaps a price cut is in order before its sales take off.

Nintendo had faced the same problems in Japan and the US when it had launched 3DS. Following considerable price cuts, the company recently announced it had sold 4 million 3DS in the US during 2011.

Sony has yet to declare an official price cut, but it should do it soon enough now that retailers have done so.

The company plans to release the PS Vita in the UK on February 22 with the Wi-Fi only version priced at £229.99; the Wi-Fi + 3G version will be available for £279.99. Hopefully, the company will lower the price of the console before it launches, if it wants to avoid the same dip in sales as in Japan.