Sony Corp.’s Playstation 3 160GB SKU ranked as the top-selling product at GameStop Corp. this week post a price cut by $50 in an online hardware sale initiative.

This week, the PS3 160GB SKU ranked as the No. 1 best-selling product at

For a limited time, 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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