Sony announced today it has slashed the price of the PSP-3000 by over 25% in New Zealand, bringing the RRP down to NZD $239.99. The system was previously listed at $329.99.

"PSP continues to offer a total entertainment package at unbeatable prices," said David Hine, head of sales and marketing at SCENZ. "The console’s new recommended retail price, complimented by a whole host of affordable games in the Essentials, Platinum and minis collections opens up a world of portable gaming for less – particularly for our younger audiences. Along with the entertainment services available to all PSP owners on PlayStation Network, there is no better value portable entertainment system around."

Sony also confirmed that from 14th April, Kiwi PSP owners will gain access to Sony's "Music Unlimited powered by Qriocity" music download service which is already available on PS3, PC and other Sony devices.

The PSP price drop comes less than two weeks after Nintendo launched its new glasses-free 3DS handheld here on 31 March.

Although the PSP looks like good value against the Nintendo 3DS, which retails for NZD $489.99, there's still a sizable markup on bringing the device into New Zealand. In the United States, the PSP-3000 sells for USD $129.99 (NZD $166) at GameStop.

Sony is due to release its next-generation PSP, codenamed "NGP", at the end of this year.