That PS3 sold like HOTCAKES for a week in the UK, but ever since? Notsomuch.

And what do retailers do when burdened with stock they can't shift? They hold CRAZY SALES. Online retailer Gameseek are selling PS3s for 387.87 (USD$778.21), which is a nutty 37 quid ($74) off the retail price of 425. Play.com, Gamestation, Shopto.com and WH Smith are also selling the console for under 400, less than a month after it launched. Gameseek boss Stephen Staley doesn't mince words when explaining the price cut, either:

PS3 performed well pre-launch and the first week of release, but since then sales have dropped considerably. I am sure the deal will help matters. I personally believe the cuts are down to overstocking from launch. Credit goes to Sony for supplying for all of the demand, however this has left most retailers with alot of stock and with the consoles costing around 400 you can imagine, its not healthy for any business to have alot of PS3 consoles gathering dust in a warehouse.

PS3 slashed to under 390 [MCV]

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