MCV is reporting that a $99 version of the PlayStation 2, in a new and compact format, will be released next year. The new unit will incorporate the power supply into its housing, allowing Sony to manufacture the product very inexpensively. "The news will surely come as a blow to Sony rivals Nintendo and Microsoft, who have see sales of PS2 suffer somewhat due to the introduction of Wii and Xbox 360 in recent years. PS2 this week celebrated its seventh anniversary, during which time it has sold over 120 million units worldwide. Yet this cut demonstrates Sony's belief that the system's market is far from exhausted. Last month, publisher bosses from the likes of Eidos, Ubisoft and Atari suggested to MCV that a price cut on the console could massively reinvigorate its sales figures."

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