It’s just been announced that Sony’s little handheld that could, the PSP, is set to receive an official price cut across North American retailers on February 27th.

According to a post on the US PlayStation Blog, the PSP (which released in 2005) has since gone on to sell 23 million units in North America, and 67 million units worldwide, “pushing the boundaries for cross-media entertainment and setting the benchmark for quality for portable games.”

Starting February 27th, the PSP-3000 will become available for $129.99 (MSRP), while all PSP Entertainment Packs going forward will be priced at $159.99 (also MSRP).

In addition, a bunch of new games have been added to the ‘Greatest Hits’ and ‘Favourites’ PSP library. Here’s two quick lists:

New PSP “Greatest Hits” Titles ($19.99)

• Assassin’s Creed Bloodlines (Ubisoft)
• Dissidia Final Fantasy (Square Enix, Inc.)
• LittleBigPlanet (PSP)
• Metal Gear Solid: Peace Walker (Konami Digital Entertainment, Inc.)
• Ratchet & Clank: Size Matters
• Resistance: Retribution
• Toy Story 3: The Video Game (Disney Interactive)

New PSP “Favorites” Titles ($9.99)

• Crisis Core - Final Fantasy VII (Square Enix, Inc. )
• Daxter
• Monster Hunter Freedom Unite (Capcom)
• Killzone: Liberation
• SOCOM U.S. Navy SEALs: Fire Team Bravo
• Tomb Raider Anniversary (Square Enix, Inc.)

What about PSP price cuts for Europe? Speaking to VG247, a Sony Europe spokesperson said:

“We have nothing to say at this time regarding the price of PSP within the SCEE region. PSP has been performing particularly well in Europe so far this year and we look forward to sharing some exciting plans that we have for PSP throughout the year.”

Will one of those “exciting plans” be a price cut?

Sony’s marketing and distribution strategies between North America and Europe for the PSP (and PSPgo in particular) have been peculiarly out of sync recently, so it may not be the smartest thing to expect a price cut for the PSP in European and PAL regions. You can still hope, though.

Anways. To mark the PSP’s price cut in North America, Sony Computer Entertainment will be rolling out a new advert across a few TV networks, and you can get a look at the ad below:

PSP – Price Cut Advertisement

Source: US PlayStation Blog