Today Sony announced that its Playstation Portable (PSP) will be dropping in price at retailers everywhere. Previously the PSP carried a retail price of $199.99, but following the price drop gaming fans can pick up the popular handheld system for only $169.99.

Video game statistic researcher, VGChartz reports a total sale of 21.07 million PSP systems with the following breakdown:

United States: 8,030,000
Japan: 5,460,000
Other: 7,580,000

The PSP's greatest competitor has been the Nintendo DS, which enjoys a relatively large lead in sales with 39.87 million DS units sold. The PSP has had eight different titles sell over 1 million copies, led by Grand Theft Auto: Liberty City Stories with 3.49 million copies sold to date.

The Playstation Portable features many unique features from the Nintendo DS, including web browsing, MP3 playability, UMD movies as well as Memory Pro Duo slot that allows gamers to transfer music, videos and photos on their PSP.

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