Earlier today Sony revealed their big announcement was the previously rumored $99 PS2. The new price goes into effect on April 1. Sony thinks this new price will introduce new consumers to the PlayStation brand, most notably families and people who weren’t alive when the PS2 came out in 2000. This price also comes in time for the release of Ghostbusters: The Video Game, Guitar Hero: Metallica and MotorStorm: Arctic Edge. The price in Europe is also reduced to EUR 99 but those in the UK, where the system is already priced at GBP 99, will not be seeing a PS2 price drop at all unfortunately.

Microsoft on the other hand is not flinching at the news of the PS2 price drop. It believes the future depends on the current generation of consoles and not the previous one. Microsoft then took the opportunity to talk about how well the Xbox 360 is selling and how great Xbox LIVE is.