Sony Computer Entertainment Europe has slashed the price point of its PlayStation Portable (PSP) in a bid to kickstart sales in the face of stiff competition from Nintendo's DS.

Sony has already cut the price of the PSP in the US and this week introduced lower prices across the European territories of €169.99.

The cut is effective from the end of April and will be rolled out to all territories by the end of May.

In addition, five new Platinum game titles - Ridge Racer 2, Tekken, Killzone, Loco Roco and Moto GP - will be launched at the lower price of €19.99.

"The combined reductions will unleash PSP, making it a 'must have' portable system for all entertainment enthusiasts, allowing them to enjoy the breadth and depth of entertainment opportunities available from PSP," said Stephane Hareau, PSP marketing manager for Europe.