The Sony PSP has been out less than a week, but already retailers are slashing the prices of the PSP Go in the UK.,, HMV and GAME have cut 11% off the RRP taking the price of the console from its original £225 down to £199.

The move appears to be an attempt to lure gamers away from other handheld consoles like the Nintendo DS and Apple iPod touch and make it the console of choice in the Christmas stocking. 

However, the price drop still makes it more expensive than both the Nintendo DSi (priced at £139.99) and the 8GB Apple iPod touch (priced at £149.99).

Sony is hoping that the bigger screen compared to its rivals, and downloadable content will be the killer application to help it win the handheld console battle this Christmas, retailers it seems, aren't so sure.