To some consumers, the PS3 might be too high of a price point. Therefore, analysts believe that Sony will drop the price of the PSP to help attract consumers with a cheaper handheld system.
"There is a price cut coming in the second half of the year," said P.J.McNealy of American Technology Research. "[The PSP] has lost momentum. Nintendo has had a great run since it launched the DS Lite and Sony needs to regain some ground."
While no specific price has been declared, it might be a safer assumption that Sony will drop the price of the PSP by $50 to $149. Also, with the new addition of the PSP Greatest Hits lineup, a game might be bundled with the system.
When Sony’s handheld system was first released back in early 2005, it had a retail price of $250 but was bundled with headphones, a demo disc, a 32mb memory stick, and a carrying case. This past March, the PSP dropped to a $199 price point but was no longer bundled with all the extras.