PS3 price drops to $499, 80GB model announced @ Gaming Target

Written by John Scalzo on July 09, 2007

News: It's official.

Sony has officially confirmed that the new price of the 60 GB PlayStation 3 system will be $499. This comes after several retailers were readying a similar drop as a "weekly special." The new price is effective immediately, so if the price was holding you back from buying a PS3, nows your time.

Not to be outdone by the Xbox 360 Elite, Sony has also announced that an 80 GB PS3 system will be available in August for $599. This package will come bundled with the popular MotorStorm.

According to Sony, the 80 GB PS3 will also be the first North American model that will not include the Emotion Engine to run PS2 games. PSone and PS2 backwards compatibility will be done using software emulation, like the PS3 systems currently for sale in European countries. There is no word on when the 60 GB PS3 will go to software-only emulation.

УAs we move into the next phase of PS3, it's important that we continue to evaluate our product line, offering consumers the technology and features that meet their growing needs for new forms of media and the way in which it is delivered,Ф said Jack Tretton, president and CEO of SCEA. УThe introduction of the 80GB PS3, the new pricing for the current 60GB model, the availability of more than 100 new software titles this fiscal year and, finally, the expansion of services for PlayStation Network, will provide even more options for users and will help bring new consumers into the PS3 fold.Ф

We'll have more on all things PS3 soon.