Inc. this week matched Best Buy Co. Inc.’s temporary price cut of Sony Corp.’s Playstation 3 160GB by $20 in a new retail initiative.

This week, the retailer is selling the PS3 160GB SKU holds a sale price of $229.99, $20 off the $249.99 MSRP.

Best Buy began selling the PS3 160 GB SKU at $229.99 Aug. 12 in a one-week sale.

Sony in July said the company’s game division, which includes the Playstation business, incurred a $45 million loss on revenue of $1.5 billion in the first quarter amid declining sales of consoles and handhelds.

By comparison, the division held a $52.3 million profit in the same quarter one year ago.

The Playstation 3 and Playstation 2 sold a combined 2.8 million units in the quarter, down from 3.2 million from one year prior.

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