For those who were wondering when Sony (NYSE:SNE) would make its move, question no more. Many of you may recall that Microsoft (NASDAQ:MSFT) cut the price of its Xbox console way back in March, that it was common knowledge that it was only a matter of time before Sony would follow suit. Follow it has.
So, there's hardly anything surprising or even all that interesting about today's move by Sony. The price cut, of course, matches Microsoft's reduction to $149 from $179, and has been widely expected. This week also marks the beginning of the E3 electronic gaming trade show, which for many had been tagged as a logical deadline for console discounting.
Sony's PlayStation 2 has been the No. 1 gaming console ever since it beat Microsoft to market back in 2000. Microsoft's reduce-priced Xbox move was, of course, a bid to steal some market share from the front-runner.
If there's anyone who's thrilled -- besides maybe the casual gamer who couldn't justify a PlayStation 2 purchase at previous levels -- it's gaming companies. The more people who are turned onto electronic gaming through cheaper consoles, the better off video game makers like THQ (NASDAQ:THQI) as well as Motley Fool Stock Advisor picks Activision (NASDAQ:ATVI) and Electronic Arts (NASDAQ:ERTS) will be.
If you're interested in the gaming industry, lots of interesting news is bound to emanate from the E3 show. For example, today Sony and Nintendo are both announcing new portable games for gaming on the go (the same idea as that infernal Game Boy gadget -- lots of you have probably seen at least one youngster with her eyes and hands glued to one of those).
Though I might have thought that Sony's move to discount PlayStation 2 would have followed Microsoft's move with a little more immediacy, it's still quick on the draw and that's a good thing. Time is of the essence -- after all, if they're now after casual gamers, it's a demographic that's likely more heavily swayed by a lower-priced console. A little bit more time spent being the cheaper of the two consoles would have been excellent for Xbox.
Are you a gamer? Talk to other Fools about the best in electronic gaming on the Video and PC Games discussion board.
Alyce Lomax does not own shares of any companies mentioned. She doesn't really think Game Boys are infernal, but suspects there are lots of people who do.
