Sony has announced that on February 27 it will cut the price of PSP to $129.99 in North America, and entertainment packs will be cut to $159.99.
However, there was no information on when or if this price cut would be applied in the European region as well.
"We have nothing to say at this time regarding the price of PSP within the SCEE region," a Sony Europe rep told VG247. "PSP has been performing particularly well in Europe so far this year and we look forward to sharing some exciting plans that we have for PSP throughout the year."
Launched in 2005, PSP has since sold over 23 million units in North America and 67.8 million worldwide, and currently has more than 590 titles available for it.
"The PSP system set the standard for complete portable entertainment and continues to be the premiere destination for gamers on-the-go," said SCEA's Tim Bender.
"Nearly six years after its initial launch, demand for the PSP remains strong. This new price point enables us to broaden the PSP platform to a larger group of consumers who are looking for best-in-class handheld entertainment."
In addition to the new price point, 13 new games will be added to the PSP "Greatest Hits" and six to the "favorites" collection. PSP's software catalog includes more than 70 Greatest Hits titles to date which retail for $19.99 along with its $9.99 "Favorites" collection.
New additions to the Greatest Hits catalog, announced today, include: Assassin's Creed Bloodlines, DISSIDIA FINAL FANTASY, LittleBigPlanet, METAL GEAR SOLID: PEACE WALKER, Ratchet & Clank: Size Matters, Resistance: Retribution, and Toy Story 3: The Video Game.
New Favorites titles, also announced today, include: CRISIS CORE -FINAL FANTASY VII, Daxter, Monster Hunter Freedom Unite, Killzone: Liberation, SOCOM U.S. Navy SEALs: Fire Team Bravo, and Tomb Raider Anniversary.