Sony, Nintendo Cut Game Console Prices

Video game rivals Sony Corp. and Nintendo Co. said they cut prices on their competing PlayStation and Nintendo 64 game consoles to position themselves with retailers before the holiday shopping season. Sony Computer Entertainment America, a unit of Japan’s Sony, kicked off the price cuts, saying it was lowering prices by 10% to $129 on its PlayStation game console effective Aug. 30. Sony also said it will reduce prices on PlayStation-branded peripherals, including its “Greatest Hits” collection, memory cards and adapters. Nintendo of America followed that by cutting the suggested retail price for Nintendo 64 to $129.95 from $149.95. Nintendo also said that effective Sept. 1, each of the systems purchased will come with a $10 instant coupon to be used with any of 25 Nintendo 64 games and accessories. The price cut by the Nintendo Co. subsidiary essentially formalized a rebate program the game maker had instituted this summer.