Sony is cutting the value of its PlayStation 3 game console across North America, Europe and in Japan, according to the company, as it looks to spur demand before the year-end shopping season.

Sony Computer Entertainment slashes the value for 160-gigabyte PS3 from $299 to $249 in North America and from 299 Euros to 249 Euros in Europe, according to its statement.

Beginning Thursday, the company will as well lower the value in Japan, from 29,980 yen to 24,980, while cutting some 14 percent off the costs of a 320-gigabyte PS3 in the three . . . → Read More: PS3 Prices Have Been Cut Down by Sony