PSP getting US price cut on February 27

Sony’s revealed that it will be trimming the price of PlayStation Portable to $129.99 on February 27, 2011.

In addition, the hardware manufacturer also confirmed that 13 new titles will be assimilated into the handheld’s “Greatest Hits” and “Favorites” range.

The pint-sized platform launched back in 2005 and has moved 67.8 million units worldwide, and boasts a software catalogue of over a whopping 590 games.

SCEA’s senior vice president of sales, Tim Bender, commented:  “The PSP system set the standard for complete portable entertainment and continues to be the premiere destination for gamers on-the-go.”

“Nearly six years after its initial launch, demand for the PSP remains strong. This new price point enables us to broaden the PSP platform to a larger group of consumers who are looking for best-in-class handheld entertainment.”

Highlights in the Greatest Hits collection include Metal Gear Solid: Peace Walker, Assassin’s Creed: Bloodlines, Dissidia: Final Fantasy and Resistance: Retribution. Meanwhile, the Favorites line-up offers such classics as Crisis Core: Final Fantasy VII, Killzone: Liberation and Tomb Raider Anniversary.

Sony’s successor to the PSP, NGP, launches in Japan later this year.