Sony Corp. this week said it will price cut the Playstation 3 to $249.99 effective immediately.

In addition, the hardware will be sold at 249 Euros in Europe and 24,900 yen in Japan.

It concurrently price cut the PS3 320GB Move Bundle now sells at $349.99.

Sony in July posted a $191 million loss in the first quarter amid lower sales of the PS3.

The company sold 1.8 million PS3 units in the quarter, down from 2.4 million one year prior.

It expects to sell 15 million PS3 units in the next fiscal year, an increase from 14.3 units.

Sony in May began sale of the PS3 160GB Call of Duty: Black Ops Bundle, which includes the PS3 160GB hardware, a copy of Activision Blizzard Inc.’s Call of Duty: Black Ops, the Call of Duty: Black Ops First Strike DLC Pack, and a Dualshock 3 Controller at $299.99.

The Limited Edition PSP Entertainment Pack, which includes the PSP-3000 handheld, 2GB Memory Stick Pro, Gran Turismo, and MLB 11 The Show, sells at $199.99.

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