He has problems.

He has problems.

It’s about damn time for that, you know? How much was that damn thing before? Now, they lowered it to $299.

Sony Corp. (SNE) effectively cut the price of its PlayStation 3 by $100 on Tuesday, a move the consumer-electronics giant hopes will juice demand for the next-generation gaming console, which has undersold its rivals since its launch nearly two years ago.

Sony announced that its PlayStation 3 will come in a new slim form factor, cost $299, and will be available at retail stores in about two weeks. The price is down from $399 for the current model.

Maybe this will stop the PlayStation 2 from kicking its ass in sales?