The new price is effective November 29.
The company cited reduced costs and steady production levels as the reason for the price cut, rather than increased competition from Microsoft and Nintendo.
Sony also announced that it will also begin selling the console in these new regions within Asia beginning Dececember 13: Hong Kong, Singapore, Malaysia and Thailand. The PS2 will also begin selling in Taiwan on January 24.
The company explained that it has no plans to lower the price of the PS2 in the United States for the remainder of 2001, and that any decision to do so will come from the U.S. unit.
