• Bloomberg

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Sony Corp. has cut the price of its PlayStation 3 console by 25 percent, bowing to demands from game publishers and increasing pressure on industry leader Nintendo Co. to follow.

The PlayStation 3’s price will be $299 in the United States starting Wednesday, with comparable reductions in Europe and Japan, the Tokyo-based company said at a games conference in Germany on Tuesday. Nintendo offers the Wii for $250 and Microsoft Corp. sells its Xbox 360 machine for as little as $200.

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