The PSP might not have long to live following the announcement earlier this year that Sony would launch the NGP (Next Generation Portable) later this year, but that doesn’t mean Sony can’t drop the price, and that’s what they’ve done in the US on Friday.

Luckily American’s still to snap up a PSP (you have had six years) can now get the PSP in the US for $129.99 – a new low.

“Today we’re very excited to announce that the PSP-3000 system will be available for a new low price of $129.99 (MSRP) starting February 27, 2011, offering its greatest value to date. In addition, going forward PSP Entertainment Packs will be available for $159.99 (MSRP); bringing you everything you need to experience the PSP system and an even better value,” says Sony on the back of the announcement.

In the UK however there hasn’t been an announcement of a price reduction meaning that if you want to buy one instead of paying £80 plus VAT (around £94) you’ll still have to pay £129.99 – ouch.

No word from Sony whether or not they will be following suit, but the usual line is that they leave the Americans to price things how they want and the Europeans to do the same.

Let’s hope that for those interested this is one price drop that translates across the water.