Starting Friday, the PS4 will be on sale at the new price, which will put Sony's console at the same price as the Xbox One in plenty of time for Christmas.
The price drop was expected, given that there was a similar cut in Japan in September. Sony says it has nothing to announce regarding prices in the UK, elsewhere in Europe or Australia. The Japanese company will have a presence at the Paris Games Show later this month, which it could use as an opportunity to address regional differences in price.
Sony's PS4 and Microsoft's Xbox One both made their debuts in November 2013, and the two consoles have been in fierce competition with one another ever since. From April this year onward, the PS4 has been outselling the Xbox One, GameSpot reported last month, but the run-up to the Christmas holiday is the most important time of year for console sales.
Microsoft, meanwhile, has been busy. In August, the company said, Xbox One sales in the US rose by 26 percent compared with the same month a year earlier.
Several other console and game bundles have also seen reductions in the US. The PS4 with Limited Edition Call of Duty: Black Ops III or NHL 16 will set you back $430 and to get hold of Limited Edition Disney Infinity 3.0: Star Wars or Star Wars Battlefront you'll have to shell out $400.