EA: PS3 Price Cut 'Precisely At The Right Time'

Electronic Arts CEO John Riccitiello is praising Sony's decision to cut the price of the PlayStation 3 with this week's unveiling of the new Slim, and says the timing is right, too. Riccitiello called Sony's $100 price reduction a "bold move done precisely at the right time," according to the Associated Press. Better to do it now instead of closer to Christmas or Thanksgiving, he adds. Closer to the holidays, a broad vertex of consumer devices are getting very visible promotions, and Riccitiello says that getting the PS3's price move in ahead of that period "really stands out." Analysts expect Sony to undertake aggressive promotions to clear out remaining inventory of the 80GB PS3. The PS3 Slim, which Sony says reduces the size, weight and power consumption of the console by 30 percent while boasting a 120 GB hard drive, will launch September 1 in North America and Europe, and September 3 in Japan.