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All three of the current major video game consoles have been out for a few years. The prices that the Sony PlayStation 3, Xbox 360 and Nintendo Wii were at launch are no longer within the range of what people wish to spend on them. Recently, all three have taken price cuts, with one even going through a re-design.

The PlayStation 3 has gone through many versions, the most sought after probably being the original 60 GB edition that was the last truly backwards compatible version of the system. Since then, many different hard drive capacities and bundles have been released. But now, consumers making the decision to buy the system almost three years after its launch have a few options for purchasing the system at a nicely reduced rate. One can buy the 80 GB version of the regular PlayStation 3 system or grab the new PS3 Slim with a 120 GB hard drive for the price of $299.99, which is a $100 drop from the previous $399.99 cost of the 80 GB system. A bundle is also currently available that packages a 160 GB PlayStation 3 with Uncharted: Drake’s Fortune for $399.99. Each version comes with the Dual Shock 3 wireless controller, but the PS3 Slim takes up less space by being 33 percent slimmer and 36 percent lighter than its predecessor.

Microsoft has not always been a customer-friendly company when it comes to the Xbox 360 system. The way in which it at least initially handled the Red Ring of Death fiasco is a prime example of that. But Microsoft is still a smart business and knows that in order to stay on par with Sony, it needs to drop its price as well. So, the Xbox 360 has been reduced, the extent of which depends on the model. The Elite is the highest version coming with a 120 GB and colored in black with a matching controller. Previously priced at $399.99, it will now cost just $299.99, including the version packaged with Lego Batman and Pure for the holidays. The 60 GB Pro model of Xbox 360 is now $249.99, a drop of $50 from its previous price. Microsoft is not finished manufacturing higher priced Xbox 360s, however. A 250 GB limited edition bundle for Call of Duty: Modern Warfare 2 is slated for a Nov. 10 release and will cost $399.99.

Nintendo followed suit with its competition as the Wii is slowly starting to fade in popularity next to the emerging market kings PlayStation 3 and Xbox 360. Continuing to be packaged with Wii Sports, the console has recently been dropped to $199.99, which is a $50 reduction from the previous $249.99 price tag. This should come as a welcomed move from Nintendo by consumers who were on the fence, especially considering the slate of games scheduled for release during the 2009 holiday season and first quarter of 2010. Many of those games include first party titles, which always prove to be “must-owns” and are generally critical to the success of Nintendo’s systems as a whole. With New Super Mario Bros. Wii, Mario and Sonic at the Winter Olympics, Super Mario Galaxy 2 and a new Zelda title figured to be on the way, the added incentive of a price cut to $199.99 should aid in increased Wii system sales.

Playstation 3 Gets $100 Price Cut

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