PS Vita price drop announced for Europe and North America

PS Vita has received a price drop in Europe and the US.

Sony's Jim Ryan announced that as of tomorrow, the consoles will cost 199 Euros, and $199. The price of memory cards will 'significantly' drop as well.

The new price, down from the original launch price of $249.99 for the Wi-Fi model and $299.99 for the 3G/Wi-Fi model, applies to all PS Vita systems available at retail, including the limited edition PS Vita The Walking Dead bundle launching this week.

SCEA will also reduce the price of the PS Vita memory cards up to 33% as noted below:

4GB - $14.99

8GB - $19.99

16GB - $39.99

32GB - $79.99

"PlayStation Vita's new price makes it an even more compelling value for gamers looking for the ultimate in portable gaming," said Guy Longworth, SVP PlayStation Brand Marketing at SCEA. "With a strong holiday lineup, including the first PS Vita games from critically acclaimed developers Guerrilla Games and Media Molecule, plus integration with the highly anticipated PlayStation 4, now is the perfect time to become a PlayStation Vita owner."

Along with the new price, SCEA is currently celebrating the PS Vita system with two promotions on PS Store. The Japanese Game Sale, running until August 26, offers discounts of up to 50% off on select PS Vita games from Japanese developers, including Metal Gear Solid HD Collection and Muramasa Rebirth.

PS Plus members can enjoy up to 75% off in the Japanese Game Sale. In addition, four Vita titles will launch as part of the PS Vita Summer Select promotion, running from August 20 to September 16, with launch week discounts of 20% off the following select games for PS Plus members: Spleunky, Dragon Fantasy Book 2, Divekick and Kickbeat.

In the coming months, more than 50 new titles are slated to launch on Vita including: God of War Collection, Rayman Legends,, Killzone Mercenary, Batman: Arkham Origins Blackgate, and Tearaway as well as indies such as Luftrausers from Vlambeer and Proteus from Curve Studios.