Sony has announced that they are now cutting the price of the software development kit for their Playstation 3 gaming console.

The company is hoping that this would encourage more developers to start developing games for this struggling platform.

Sony stated that they are now reducing the price of the kit to $10,250 in North America, 950,000 yen in Japan and 7,500 Euros in Europe.

This new development comes just a couple of weeks after the company reduced the price of the gaming console itself. Sony also launched a new budget variant of the console with some missing features to provide a better deal for the consumer.