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Sony Drops Blu-ray High Definition Price to $299

The Blu-ray player, known as an entry-level player, has a suggested retail price of $399. However, Sony says that it will ship a new one for $299 later this year.

Recent reports suggest that the $299 Blu-ray player might be a year away, however, Sony said the price will fall in the $300 broad range in 2008. Some analysts have already predicted that Sony will offer a $299 Blu-ray player this holiday season, and a $199 player by late 2009. NPD Group’s projections say there is still no real market for high-definition discs until 2009.

While Toshiba has shut down its HD DVD business, Sony is still struggling to convince people of the value of High-Definition. Other Blu-ray companies such as Sharp and Samsung also have come out strong selling the benefits of the revolutionary technology. Blu-ray discs can display in 1080p on 1080p HDTVs.

The international company also expects to sell some five million Blu-ray players in 2008, however this includes sales of the PlayStation 3 along with its set-top systems.

Sony also confirmed reports that the supply of LCD panels for televisions will be in short supply this year, keeping prices firm. Even so, the renowned company is trying to reduce the quantity of stock it has in its long term supply chain so it can react quicker to fluctuations in demand. Sony has contracts in place to assure the supply it needs.