Sony is lowering the barrier-to-entry price point for the current PSP, bringing the cost of a base PSP-3000 system to just $129.99. That’s $40 down from the original MSRP of $169.99. In addition, all bundle configurations, otherwise known as PSP Entertainment Packs, will be marked down to $159.99.

The price adjustments go into effect retailer-wide this coming Sunday, February 27. As of December 2010, Sony has sold 23 million PSP units in North America. It’ll be interesting to see the effect that this price reduction has on spurring sales. With big-hitters like The 3rd Birthday due out soon, the PSP could use a bump.

It’s likely the last price drop we’ll see as attention begins to shift over to Sony’s next portable platform – the NGP.

Thanks, PS Blog.

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Read more: PSP Hardware Sales Down 50 Percent In Q2 2010, PS3 Up Over 2009,  NGP And PSP Will Co-Exist, Says Sony,  PSP Turns Five In North America, The Best Is Yet To Come Says Sony,  Sony: PSP Hardware Sales Up, Software Attach Rate Dwindles,  PS3 Sales Reach 1.2 Million During Holiday Season