The company expects the move to fuel consumer demand as it gears up for the launch of the PlayStation 2's successor later this year.
Sony claims that the PlayStation 2 is the most popular gaming platform in North America, Europe and Asia, with more than 101 million units and approximately one billion games shipped worldwide.
Sony to cut PS2 price to $129.99

VNU Net reports Sony has cut the PlayStation 2 price by $20, to $129.99.