Sony has reduced the price of a PlayStation 3 to £249.99 RRP in the UK.

Sony has announced it is to reduce the price of popular games console PlayStation 3 (PS3) in the US, UK and Europe.

The price of a new PS3 will be reduced to £249.99 RRP in the UK, $299 in the US and €299 across Europe from today (19 August). It originally retailed for £299.99 in the UK.

At a press conference ahead of Games Com in Cologne, Sony unveiled the price reduction alongside the presentation of the new slimmer and lighter PS3.

The new PS3 system will also use less power and has a 120GB hard drive, and will be available in stores from 1 September 2009.

Sales of the PS3 have been slightly lacklustre in the face of cheaper, competitor games consoles such as the Nintendo Wii and Xbox360, priced at £169 and £149 respectively.

Sony also stated it was expanding and improving its online television service, including BBC iPlayer, as well as introducing the PlayStation Network Video Store for PS3 and PSP, which offers thousands of downloadable films.

Andrew House, Sony President and CEO, said: “PlayStation Network opens up a genuinely unique entertainment experience. This is no longer just for hardcore gamers, but for everyone.

“We believe that everyone enjoys entertainment differently and should have the choice as to what entertainment they consume and exactly how they consume it.”