Sony has lowered the price of the PSP from $299 to $249, and it will introduce a stripped down version of the product, without Wi-Fi. The holiday shopping season is just around the corner and in the (arguably dwindling) hand held game device market, competition is fierce. Nintendo recently dropped the price of its new 3DS to $169. Of course, all this happens as games for mobile devices become increasingly popular. The games aren't as good, of course, but they're way cheaper.

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