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Sony cuts U.S. prices for PlayStation 4 ahead of holiday season

Published 10/08/2015, 05:30 AM
Updated 10/08/2015, 05:39 AM
© Reuters. A man rides an escalator under a advertisement board of Sony Corp's PlayStation 4 game console at an electronics retailer in Tokyo

TOKYO (Reuters) - Sony Corp (TOKYO:6758) said it was cutting the price of its PlayStation 4 videogame console to around $350 from $400 to boost sales ahead of the year-end holiday season.

Thursday's announcement follows similar price cuts of the console in Asia, including its home market Japan, and adds pressure on rival Microsoft Corp (NASDAQ:MSFT), whose Xbox One system has lagged the PlayStation 4 in global sales.

Videogames, along with sensors, have helped lead a turnaround at Sony which is still struggling with weak smartphone and TV sales.

In July, Sony raised its full-year operating income forecast for its game and network services division to 60 billion yen ($501.3 million) from a previous 40 billion yen, due to solid PlayStation demand.

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