Sony Computer Entertainment Europe has announced that it will reduce the price of the European PlayStation 2 console from its current retail price of 260 pounds (about $380) to 199 pounds (about $293). The price reduction will take effect on Friday. Along with the price drop, SCEE announced that it plans to launch a new 15 million pound (about $22 million) marketing campaign to support the holiday release of several first- and third-party PS2 games. Titles included in the holiday lineup for the European PS2 include Wipeout Fusion, Airblade, Jak and Daxter, Devil May Cry, Tony Hawk's Pro Skater 3, Silent Hill 2, and Soul Reaver 2, among others.

　　"SCEE stated at the time of launch that its strategy would be to pass on any future savings to its customers and this is exactly what we are doing now," said Ray Maguire, marketing manager for Sony Computer Entertainment Europe. "With its attractive new price point, with the PlayStation 2's unbeatable technology package, and with a vast portfolio of over 100 software titles, we believe there has never been a better time to enter the PlayStation 2 experience."

　　Naturally, the drop in the price of the European PlayStation 2 has reignited long-standing rumors regarding a possible price reduction for the console in North America for the holiday season. However, Sony Computer Entertainment America does not expect to announce a price reduction in that territory.