Today, Sony finally slashed the price on its portable gaming console from $169.99 to the low, low price of $129.99. While this may seem a bit too late considering the recent reveal of the NGP/PSP2, one only needs to look at the PlayStation 2 to get an idea of how many people still buy past generation consoles and content.

One thing that is kind of hard to believe is that it has taken a little over six years to get to this point in time. You would think the PSP would have already been at $129.99, but I guess not. Hopefully Sony continues to deliver software worth picking up for the hand held, but if not, the backlog of titles already made available is quite impressive.

Check out the price drop trailer below.