Sony has cut the price of its best-selling PlayStation 2 (PS2) by $20 in the US.
More than 100 million PlayStation 2s have been produced
The price drop was widely expected, coming ahead of the planned November launch of Sony's new PlayStation 3.
Console makers usually reduce the price of existing machines in the run-up to the release of a new model.
The PS2 will now sell in the US for around $130 (£73). Sony has told the BBC News website it has no plans to trim the current UK price of £104.99.
"While we continue to innovate and design groundbreaking new products, we remain dedicated to our long-term vision for the PlayStation 2 platform," said Kaz Hirai, president and CEO of Sony Computer Entertainment America in a statement.
The PS2 dominates the world of video game consoles. Since its appearance in 2000, Sony has manufactured more than 101 million units globally.
The company is gearing up to unleash its successor, the PlayStation 3, with a planned worldwide launch in November.
The PS3 is due to be available in November
But Sony is hoping to keep sales of the current console buoyant by trimming the price by $20.
A spokesman for Sony UK said the company had no plans to follow suit in the UK.
He told the BBC News website that the PS2 was "very competitively priced" and Sony preferred to rely on bundles to attract consumers.
Console sales have been in decline over the past few months, as gamers save up their cash to invest in a next generation machine.
Next-generation consoles, such as the PS3 and Nintendo's Revolution, are expected to dominate the headlines at the E3 video games trade show in Los Angeles next month.
Microsoft's new machine, the Xbox 360, hit the shops towards the end of last year. But its sales have been dogged by supply shortages.
All eyes are on the software giant to see whether it will respond to the Sony price cut by dropping the $149 price tag on its original Xbox console.