The PlayStation 3 now starts at $249.99 (HANNIBAL HANSCHKE/REUTERS)

In a blog post on the company’s site, Sony Computer Entertainment’s American president Jack Tretton said that the 160 GB PS3 will now be $249, and the 320 GB version will be $299. The price cut is effective immediately in the United States and Europe. In Japan, the cheaper price will kick in on August 18.

Adding that the PS3 is fairly future-proof — ahem, Nintendo — Tretton also pointed to the PS3 titles coming up including Uncharted 3.

“The new price will make the PS3 more accessible than ever before, so there’s never been a better time to join PlayStation Nation,” Tretton wrote.

Now that Sony has joined Nintendo Co.’s price-cut party, all eyes are on Microsoft. If the company slashes the price of its Xbox console soon, it could probably sway college students on the fence about how exactly they want to outfit their dorm rooms.

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