Howard Stringer’s lengthy, difficult restructuring of Sony looks like it’s working.

One problem, Sony’s videogame business, which was supposed to be the company’s standard bearer as it moves forward, is falling behind.

Response to its new PS3 game unit, released late last year, has been underwhelming, forcing the company to slash prices throughout the summer and fall. In the U.S. where the consoles were originally sold for $499 and $599, Sony has knocked down prices to $399 and $499; it made similar cuts in Europe and Japan

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