Sony launches cash-for-televisions scheme

Sony is launching a scheme in Ireland and Britain to encourage cash-strapped consumers to swap old televisions for new ones in a plan that mirrors worldwide car scrappage initiatives.

Sony Ireland are offering up to €200 for a trade-in of any old TV. It says the offer will be available in Sony Centres, Expert Stores, DID, Powercity and Harvey Normans outlets nationwide.

'The campaign itself offers customers the advantages of swapping old for new rather than simply throwing away - encouraging old televisions to be responsibly disposed of,' a Sony spokesman said.

The Japanese company has been badly hurt by the global economic downturn, which has depressed demand for televisions and other electronic gadgets.

The scrappage plan follows the success of the British government's 'new for old' car scheme.

Earlier this month, the government announced that British motorists have bought more than 150,000 new cars under its vehicle scrappage scheme, reaching the half-way mark in the plan to boost the troubled auto sector.

The scheme, which gives car buyers a £2,000 discount when they trade in a vehicle over 10 years old, was launched in April.

Slimmed down PS3 unveiled

Meanwhile, Sony has also unveiled a long-rumoured slim version of its PlayStation 3 console and cut prices on existing models that have been struggling for momentum in the marketplace.

A PlayStation 3 console with 'an extremely streamlined form factor' and a 120 gigabyte hard drive will be released in September, according to the Japanese electronics giant.

The consoles will be priced at $299 in the US, €299 in Europe, and 29,980 yen in Japan.

Sony cut $100 off the prices of PS3 consoles currently on the market to $299 for models with 80 gigabyte hard drives and $399 for those with 160 gigabyte hard drives.

The slim PS3 is about two-thirds the size of existing models but has all the features of previous models, including Blu-ray high-definition disk players, according to Sony.

Since their launch with much fanfare in 2006, PS3 models have boasted power and rich graphics, but at premium prices when compared to Microsoft's Xbox 360 and Nintendo's innovative Wii consoles.

Sony has since found the console wars to be bruising but is banking on its refreshed, lower-priced PS3 line and the release of blockbuster game titles to improve its fortunes in the crucial Christmas shopping season.

Sony reported a net loss of 37.1 billion yen ($390m) for the fiscal first quarter to June, blaming the global economic downturn.