Washington, D.C. (October 18, 2007) -- Sony today said it will launch a $399 Play Station which will include a Blu-ray player inside.

The $399 player will be launched on November 2, in time for the holiday shopping season.

At $399, the new 40GB PS3 will be the lowest price Blu-ray player on the market. Sony's lowest-price standalone Blu-ray player now has a suggested retail price of $499.

Sony is hoping the lower-cost PS3 will boost sales of the game console which have lagged behind rivals Microsoft's XBox 360 and Nintendo's Wii.


New PS3 will come with a free Blu-ray of Spider-man 3.

But the company also hopes that a $399 PS3 will generate more interest in the Blu-ray high-def disc format.

Sony is the leading booster of Blu-ray which is competing with the Toshiba-backed HD DVD for the new high-def disc audience.

The $399 PS3 will come with a free Blu-ray disc of Spider-man 3.

The introduction of a $399 PS3 could also signal that Sony, and other Blu-ray manufacturers, will soon lower the cost of their standalone players.

In related news, Sony said it's cutting the price of its 80GB PS3 from $599 to $499.

Sony said the new 40GB PS3 will not be compatible with the games for the PS2.

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