New low-price compact PS2 to arrive in 2008

Thought PlayStation 2 hardware sales were going to quietly disappear after the revenue frenzy of Christmas? Think again – Sony is preparing to introduce a new, cut-price model of the console in early 2008.

MCV can exclusively reveal that this ‘compact’ PS2 will hit the US at just $99 in the New Year – a reduction of $30 from its current selling price of $129.

If a similar percentage cut is introduced in the UK, retailers can expect to sell the revamped system for just 75 – or maybe lower.

The new version has a built-in power supply – unlike the current Slim model – allowing the platform holder to manufacture it more economically and sell it at the bargain price.

The news will surely come as a blow to Sony rivals Nintendo and Microsoft, who have see sales of PS2 suffer somewhat due to the introduction of Wii and Xbox 360 in recent years.

PS2 this week celebrated its seventh anniversary, during which time it has sold over 120 million units worldwide. Yet this cut demonstrates Sony’s belief that the system’s market is far from exhausted.

Last month, publisher bosses from the likes of Eidos, Ubisoft and Atari suggested to MCV that a price cut on the console could massively reinvigorate its sales figures.

A Sony spokesperson refused to comment when contacted by MCV.