Gaming Sony has trimmed the size and price of its PlayStation 3 games console, hoping to boost a slumping market with a sexier product. But the announcement follows news that video game sales are rapidly declining, and the PlayStation 3 is at the bottom of the heap.

The NPD Group reports the PlayStation 3 moving only 122,000 units in July, a mere 14,000 more than its predecessor, the PlayStation 2. This is sad news given that the PlayStation 2 is nine years old and totally outdated in its hardware. For comparison's sake, the Microsoft Xbox 360 moved 203,000 units, and the Nintendo Wii moved 253,00.

With a slimmer and cheaper iteration of its console, Sony hopes to bump those numbers up in its favour. But it may be too late.

Since its release, the PS3 has suffered the 'lonely kid on the playground' syndrome - it's just not popular. It was expensive, and though its cost-to-build has been slashed by 35 percent, Sony still ends up in the red with every sale. The company hopes to break even sometime this year. Also, based on several game reviews I have read, the PS3 often suffers graphical glitches in its games that Microsoft's Xbox 360 simply does not. It's clear to those who pay attention to the little details that Sony's rivals can do what the PS3 does, but in many cases, better.

Cutting the price of the PS3 is just slapping a fresh coat of paint on a crumbling house, and it seems to me that no matter what Sony does with its PS3, it may just be doomed to failure.

See also:

Sony PlayStation 3 'Slim'

Microsoft Xbox 360 Elite review

PC World