In a bid to boost lacklustre sales, Sony has cut the price of its Playstation 3 gaming console in the US by 17%, or $100.
According to the BBC, the PS3 will now cost $500 which is still $20 more expensive than Microsoft's Xbox, and almost double the price of Nintendo's Wii.
Both these consoles have significantly outsold the PS3 in the US, but Sony is confident the new pricing will help it claw its way back.
"Our initial expectation is that sales should double at a minimum," the BBC quotes Sony Entertainment America CEO, Jack Tretton as saying.
"We've gotten our production issues behind us on the PlayStation 3, reaching a position to pass on the savings to consumers, and our attitude is the sooner the better."
The move also comes just ahead of the launch of the latest version of the PS3 which will feature an improved 80-gigabyte hard drive and is expected to sell for around $600.
Sony Computer Entertainment Europe is expected to make an announcement at the E3 gaming event on Thursday.