Sony is rumoured to be about to cut the price of its PlayStation2 console in the US and possibly the UK according to news agency Reuters.

In the article Reuters quote Lazard Capital Markets analyst Colin Sebastian saying that:

"Our industry checks indicate that Sony is planning to cut the PS2 price to $129 from the current $149 before the end of this month," Sebastian said in a client note.

Pocket-lint spoke to Sony Computer Entertianment Europe about the claims of a price reduction, however a Sony Spokeswomen declined to comment on the price rumours.

Analysts are expecting a price reduction for the console ahead of the launch of the PlayStation3 console in November. However in the past Sony have normally reduced the price before school holidays to boost sales with bored children stuck at home with no homework.

"Hardware price cuts are necessary not only to drive demand at the end of a console cycle, but also to bring the current-generation consoles within reach of more value-oriented customers", Sebastian said.

Sony last cut the price on its stand-alone PS2 to $149 from $179 in June 2004.