Sony will slash the price of the disc-less PSPgo on 1st November by £65, but analysts are doubtful the move will reverse the embattled console's fortunes.
The PSPgo currently has an RRP of £225 in the UK. From 1st November it'll go for £159.99. The download-only handheld has also seen a price cut in Japan (now ¥16,800) and in the US (now $199).
"Sony's fifty US dollar price cut on the PSPgo is too meagre and too late," M2 Research's Billy Pidgeon told Eurogamer.
"The UK price reduction is more dramatic, but had to be considering the recent MSRP which was too high in my opinion. Now that 'sources' have revealed more details regarding PSP2, including a proposed fall 2011 date, it is very unlikely that these prices will clear shelves. PSP will see sharp declines this holiday into Q1 2011 without more aggressive price cuts."
The PSPgo launched in the west last October and has been a commercial flop for Sony, although some suggest it was an experiment ahead of the much-rumoured PSP2.
"I think that the sales levels speak for themselves," Wedbush Securities' Michael Pachter offered.
"The PSPGo just hasn't gained any traction with consumers, and in fairness, it's due to the high price point. Until it's priced competitively with the PSP-3000, I don't expect to see a huge lift in sales."
The PSP-3000 currently enjoys a RRP of £139.99 - £20 cheaper than the new PSPgo price.
"I think the PSPgo has likely suffered under the weight of a declining market for handheld game devices as well as the rise of Smartphones as compelling platforms," Lazard Capital Markets' Colin Sebastian said.
"I imagine that PSPgo is searching for a sweet-spot in terms of pricing, and certainly under $200 there should be a bigger market. However, I think it's too early to say whether this will be the right price point or whether this is now the right platform for core gamers."