GameStop Corp. this week price cut Sony Corp.’s Playstation 3 by $50 in a new online hardware sale initiative.

This week, customers can purchase the PS3 160GB SKU at $199.99, $50 off the $249.99 MSRP.

The price cut is the largest discount for the hardware since the 2011 holiday period.

NPD Group Inc. this month said video game sales fell 25 percent from one year prior to $1.1 billion from $1.47 billion in Mar.

Hardware sales declined 35 percent to $325.5 million, non-PC software sales fell 25 percent to $553.1 million, and accessories dipped eight percent to $222.5 million.

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