Prices Slashed Permanently: Sony lowers PSP price point

by: Peter Skeritt -
More On: PSP
Just in case you missed the news over the weekend, Sony executed a price drop on its PlayStation Portable (PSP) hardware as of Sunday, February 27th.

You can now buy a brand new PSP for $129.99, which is the same price as a new NIntendo DS Lite. Although the game library for the PSP isn't as diverse or as large as the DS library, there are still some gems out there worth buying and the PSP is an excellent portable multimedia platform. (Just be sure to pick up a Memory Stick Pro Duo with ample storage.)

The price cuts don't end with the hardware, either. 

Metal Gear Solid: Peace Walker, Dissidia: Final Fantasy, LittleBigPlanet, Assassin's Creed: Bloodline, and several other games were reclassified as Greatest Hits and saw their prices reduced to $19.99. The PSP also has an even cheaper line of software, called Favorites, which retails for a mere $9.99. The list of games here is formidable as well, with titles including Monster Hunter Freedom Unite, Killzone: Liberation, and Crisis Core: Final Fantasy VII

Any price drops are good news for consumers, especially for those who have been on the fence in the past when it comes to pulling the trigger on a PSP purchase. With the NGP coming towards the end of the year, though, do you save your money and wait for the potentially superior platform or do you splurge now and catch up on any games you've missed? 

That's not an easy question to answer, but we know you can do it. In the meantime, check out the body of Sony's press release covering the price drop after the jump. 
FOSTER CITY, Calif., Feb. 25, 2011 /PRNewswire/ -- Sony Computer Entertainment America LLC (SCEA) today announced the PSP® (PlayStation®Portable) system will be available for $129.99 (MSRP) starting February 27, 2011. Since launching in 2005, the PSP system has sold more than 23 million* units in North America and 67.8 million worldwide, offering more than 590 engaging titles in North America as well as access to a vast selection of downloadable content from PlayStation®Network. In addition to the new price point, 13 new games will be added to the PSP "Greatest Hits" and $9.99 "Favorites" software collections, further delivering upon the PSP system's incredible entertainment value.
"The PSP system set the standard for complete portable entertainment and continues to be the premiere destination for gamers on-the-go," said Tim Bender, Senior Vice President, Sales, SCEA. "Nearly six years after its initial launch, demand for the PSP remains strong. This new price point enables us to broaden the PSP platform to a larger group of consumers who are looking for best-in-class handheld entertainment."
As part of the PSP system's extensive software catalogue are its "Greatest Hits" and "Favorites" collections. Available for $19.99 (MSRP), Greatest Hits titles have surpassed an impressive sales threshold and represent the highest caliber of quality software available on the PSP system. With nearly 70 titles to date, two of the latest additions include Assassin's Creed® Bloodlines™ (Ubisoft), DISSIDIA® FINAL FANTASY® (Square Enix, Inc.), LittleBigPlanet (PSP®), METAL GEAR SOLID®: PEACE WALKER (Konami Digital Entertainment, Inc.), Ratchet & Clank®: Size Matters, Resistance: Retribution™, and Toy Story 3: The Video Game (Disney Interactive).
Favorites titles, valued at $9.99 (MSRP), offer some of the PSP system's most popular games at an incredible price. New PSP Favorites titles include CRISIS CORE® -FINAL FANTASY® VII- (Square Enix, Inc. ), Daxter®, Monster Hunter Freedom Unite™ (Capcom), Killzone®: Liberation, SOCOM U.S. Navy SEALs: Fire Team Bravo, and Tomb Raider® Anniversary (Square Enix, Inc.).
Acclaimed for being the first truly integrated handheld entertainment system, the PSP system continues to deliver unparalleled gaming experiences only possible on the PSP platform while offering a wide variety of affordable entertainment options to consumers.
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