Sony to cut PS3 prices in Japan, offer new model

TOKYO, Oct 9 (Reuters) - Sony Corp (6758.T) said on Tuesday it would cut the price of its PlayStation 3 game console with a 20 gigabyte hard disk drive by 10 percent in Japan, and launch a new model, in a bid to better compete with Nintendo Co Ltd's (7974.OS) hot-selling Wii.

Sony said it would lower the price of the 20 gigabyte (GB) model to 44,980 yen ($384) from 49,980 yen on Oct. 17.

It will also start selling its 60 GB model at 54,980 yen. Sony has not so far suggested a price for the 60 GB model, but it currently retails for around 60,000 yen.

Sony said it would launch a new PS3 with a 40 GB hard drive at 39,980 yen in Japan on Nov. 11.