Console Price Drops

Gamers can rejoice: maybe it's due to the recession, maybe the competition is getting fierce, but the bottom line: lower prices on gaming consoles. According to a recent article in the L.A. Times, price slashing of gaming consoles is the latest tactic being used to boost sluggish sales.

Writers Alex Pham and Ben Fritz hypothesize:

"Who will win this price war? Consumers."

After many months of rumor and debate, the powers that be at Sony have finally dropped the price of the PS3 and even introduced a new model to the market. The PS3 Slim is a sleeker, smaller 120GB model similar to the PS2 Slim of last gen. It even comes with a slimmer price tag--at $299 it's $100 less than the cheapest version of the system was available for in the past.

Its release also signals price cuts across the PS3 line with PS3 deals becoming more common. The 80GB version will also now be available for just $299 and the 160GB models will cost just $399, down from $499, at retail outlets both offline and online.

It should be noted, that many reports are also stating that the 80GB and 160GB models will be retired once all units have sold out. Performance-wise, the Slim will purportedly be nearly as feature rich as its bigger, bulkier comrades. The PS3 Slim will come equipped with Blu-ray player functionality and built-in Wi-Fi.

Not to be left behind, Microsoft has announced price cuts for its popular Xbox 360 system as well. The Xbox 360 Pro 60GB model is dropping to just $250 and the 120 GB Elite will cost just $300 going forward.

Online retailers have jumped at the chance to offer consumers great deals on these newly discounted systems. Best Buy is currently running a promotion for 360 games discounts on select titles, as well as a great Xbox console deal.

So, that's the skinny on the new price reductions for the two big next generation consoles. If you're new to next gen and want to jump in now or looking to grab a new system for that second gaming room, now is a perfect time to get on-board and save.

Be sure to check out my Twitter page @SavingsGCapes for more great gadget and tech deals, news, and all around tech geekiness. For all the gaming-specific deals and news you can handle, follow @YasarSavings, our resident gaming guru.

Next week I'll be getting into the various ways you can save with Netflix. Until then--for those of you in the U.S.--have a great Labor Day weekend.