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Sony cuts PS3 development costs

More game titles expected for PlayStation 3

Sony has cut the price of the PlayStation 3 (PS3) development kit by 50 percent in an effort to encourage more games.

PS3 development kits will now cost €7,500 (£5,400) in Europe as Sony attempts to enliven interest in the struggling console.

"Although its predecessor the PlayStation 2 dominated the gaming market, the PS3 has struggled against the Nintendo's Wii," reports the Associated Press. "Boosting PS3 sales is crucial for Sony's overall business strategy because it also supports the Blu-ray Disc next-generation video, which is vying with the rival HD-DVD format."

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