Sony has lowered the barrier of entry for the PSP and some of its top games.

Now that the NGP/PSP2 is on the way, Sony has to start moving some more units of the PSP to make room. What better way than with a sizable price cut?

Sony has announced that on February 27 the new price of the PSP core pack will be reduced from $169.99 to $129.99. PSP bundles such as this one that features Hannah Montana will drop from $199.99 to $159.99. That’s a $40 system price cut across the board.

Game-wise, Sony is also adding a bunch of new titles to its $19.99 “Greatest Hits” and $9.99 “Favorites” lines. New “Greatest Hits” will include Assassin’s Creed: Bloodlines, Dissidia: Final Fantasy, LittleBigPlanet, Metal Gear Solid: Peace Walker, Ratchet & Clank: Size Matters, Resistance: Retribution, and Toy Story 3: The Video Game. New “Favorites” will include Crisis Core: Final Fantasy VII, Daxter, Monster Hunter Freedom Unite, Killzone: Liberation, SOCOM U.S. Navy SEALs: Fire Team Bravo, and Tomb Raider Anniversary.

The NGP’s capabilities are set to totally blow the PSP out of the water, but there are still some fun experiences to be had on Sony’s current handheld if you haven’t picked it up yet. Thanks to these price cuts, now those experiences will cost a few dozen less simoleons.

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