On July 9, 2007, Sony announced an enhanced 80 GB model of the PlayStation 3 entertainment system that would retail for $599 in North America. The new system will initially be sold in conjunction with the online racing game MotorStorm beginning in August. Sony also simultaneously announced the immediate $100 price drop of the current 60 GB PS3 model to $499.Official Site: Sony Announces New Price Cut on 60GB Model (July 9, 2007)
Additional price cuts over the next year and a half saw the suggested MSRP drop an additional $200 to $399.
In January 2009, analysts began to predict an additional price drop in April 2009 to $299 to boost sagging sales.Edge Online: PS3 Price Cut in April, Analyst Predicts (January 13, 2009) SCEA Senior Vice President of Marketing Peter Dille responded to these rumors in an interview with Game Daily with hopeful statements that consumers would recognize the inherent value of the 19-year life cycle of the PlayStation 3, explaining that the somewhat costly console would "stand the test of time."Game Daily: PS3 is 'Going to Stand the Test of Time' (March 19, 2009)
