Sony is expected to cut the price of the PlayStation 2 in Europe at last. The console will drop from €249 to €199 in a move which brings the hardware price in line with the Xbox and GameCube.

The price cut should take effect on Friday and follows a drop to $179 in the USA, announced at E3 last week. However the latter is a stock-clearing incentive designed to clear shelves for the arrival of the new PS2 which will appear at $199 with the network adapter.

We assume the move to €199 will also bring the PS2 in line with the Cube and Xbox in the UK, with a £129 price point - although those in the Eurozone might be a little miffed at this, given that the current currency values would mean that the UK is getting the console significantly cheaper than the rest of Europe.

So much for "Rip-Off Britain" - but the European price point continues to be one of the highest in the world for the console despite this cut. In the US, the system sells for the equivalent of €154, or £110. © gamesindustry.biz