Japanese videogame console maker Sony has announced that they are dropping the price tag on their previous generation PlayStation 2 gaming console.

Sony announced that they would now sell the PS2 console for just USD 99.

The aim is to provide an alternative to Nintendo Wii gaming console which dominates the market.

Sony has been struggling to sell their PlayStation 3 console which is still pretty expensive compared to both Wii and Microsoft Xbox 360.

PlayStation 2 might be eight years old but it still sells in good numbers. Some games are still launched for this platform.

With the global economy in a recession, Sony might see a boost in the sales of PS2 now that it has gone cheaper.