Sony Computer Entertainment (SCE) today revealed that the PlayStation 2 will be reduced in price in Japan. The PS2 will be priced to ¥16,000 ($137) effective September 15. Currently, the console retails for a suggested retail price of ¥19,800 ($170).

This move is done in anticipation of the PS3 release, which will launch worldwide in November 2006. A similar price cut was recently announced for Europe, reducing the price from €159.99 ($205) to €129.99 ($167). SCE reports that 106 million PS2s have been sold worldwide.