CHaN_316 writes "Sony has announced that they will cut the price of the Playstation Portable (PSP) from $199.99USD to $169.99USD. The move is intended to better compete against the Nintendo DS. The article reports, "In February, Nintendo's DS outsold every other console in the U.S., with about 485,000 total units sold. The prices of the DS vary among online and brick-and-mortar retailers, but a consumer can usually expect to pay from $130 to $160." This is the first price cut of the PSP since its launch in March 2005. Now when are we going to see a PS3 price cut?"