Sony cuts PSP price 24 per cent in Europe

Sony Corp, the largest exporter of consumer electronics globally has slashed European prices for its PlayStation Portable video-game player by 24 per cent.

The PSP player will have a suggested retail price of €129.99 beginning today, according to a statement on Sony Computer Entertainment Inc's website. The price was cut to $129.99 in the US in February.

According to Satoshi Fukuoka, a Tokyo-based spokesman at Sony's video-games unit, the price cut was aimed at increasing the adoption of the player in Europe. Earlier the suggest retail price was €169.99

Tokyo-based Sony competes with Microsoft Corp which makes the Xbox, and Nintendo Co in the gaming market.

It is reported that the global release of its next-generation PlayStation Portable game machine, codenamed NGP, may be staggered in the backdrop of the earthquake and tsunami that hit Japan last month disrupting production.

According to Jack Tretton, president of Sony Computer Entertainment of America, the new PlayStation Portable may be introduced in a single region this year, rather than across multiple markets. He did not, however give an indication as to in which region the device may be first offered.