EA slashes new-game prices by 20 percent

So far, the jump to the "next-generation of gaming" has proven costly, mostly for consumers. When Microsoft announced that its Xbox 360 would come in two SKUs, a $299 and $399 model, many gamers groaned at the prospect of forking over nearly half a grand just to get started. The groaning erupted into a full roar over the weekend, as a report from Merrill Lynch states that the PlayStation 3 may cost as much as $800 when it hits retail.

Analysts went on to predict that this year's transition between console generations would be particularly harsh on all parties involved and that cuts in current-gen consoles could bring the Xbox and PlayStation 2 under the $100 barrier.

Electronics Arts, not having a console of its own to discount, is doing its part to help gamers stay entertained while they wait for their bank accounts to bloat. The company, which last month knocked as much as $20 off existing current-gen games, is now releasing new and upcoming games at lower prices, reports Reuters.

Several EA titles, including today's release of Fight Night Round 3, will now sell for $39.95, $10 less than what new titles usually fetch on the market. Other games mentioned to be sold at the new price point include two highly anticipated games in Criterion's Black and the internally produced The Godfather.

"$39 is resonating with consumers given the transition," EA vice president Jeff Brown told Reuters. "There are indications that $39 is a solid and sustainable price point."

The price for third-party-developed games for the Xbox 360, currently the only next-gen console on the market, remains at $59.99.