NEW YORK — After months of rumors and anticipation, Sony Corp. is slashing the price of the PlayStation 3 by $100 in hopes of boosting sales of the console ahead of the important holiday season.

Sony Corp. said yesterday it will cut the price of the currently available 80 gigabyte PlayStation 3 effective immediately, to $299. It is also launching a slimmer, lighter model with a 120 GB hard drive in early September; that version will also cost $299.

Sony also cut the price of its existing 160 GB PlayStation 3 by $100, to $399. All price cuts apply worldwide.

Last week, market researcher NPD Group said U.S. retail stores sold about 122,000 units of the console in July, compared with nearly 203,000 for Microsoft Corp.'s Xbox 360 and more than 252,000 for the Nintendo Co.'s Wii.