A man, right, stops to look at a giant model of a Sony Corp. PSP hanging from the ceiling. (Photographer: Michael Caronna / Bloomberg News)

Sony Re-Releases the PlayStation in Bid for Gamer Nostalgia

(Bloomberg) -- Sony Corp. is rolling out a mini version of its original PlayStation game console, seeking to tap in to the retro craze and nostalgia of gamers who grew up with the iconic device.

The new PlayStation Classic will retail for $99, while original consoles are on sale on EBay for about $40 to $60. Sony’s revamp, though, comes pre-loaded with 20 games, including classic titles like Final Fantasy VII and Tekken 3.

Sony Re-Releases the PlayStation in Bid for Gamer Nostalgia

Sony is taking a page from the playbook of Nintendo Co., its Japanese rival and a master at reviving older systems. Last year Nintendo re-released its Super Nintendo Entertainment System to wild success: The SNES Classic had sold 5.28 million units globally as of March 31. That version came on the heels of an even earlier throwback revival, of Nintendo’s first NES console, which was one of the most sought-after products over the holiday season in 2016.

It’s Sony’s first retro console offering, and comes as its PlayStation 4 continues to dominate the gaming console market. The original PlayStation made its debut in Japan in December 1994. To date, Sony has sold about 82 million PS4s, according to gaming site VGChartz.

While the classic versions are popular, they still don’t compete with the latest models and all the technological advances in graphics and new games.

Sony Re-Releases the PlayStation in Bid for Gamer Nostalgia

“It’s not a financially relevant move; it’s paying homage to where it all began,” said Bloomberg Intelligence consumer electronics analyst Jitendra Waral. “In the bigger picture, Sony’s story remains focused on the PlayStation Network, the PS4 and the PS4 Pro,” Waral said.

The PlayStation Classic is slated to be released in North America, Japan and Europe on December 3rd.

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