Sony will also reportedly introduce the previously announced BDP-S550 with an MSRP of $399, instead of the expected $499 price point, in mid-October.

The price reductions will certainly result in competitive pressure on other vendors.

In fact, HD Guru reports that Funai will cut the MSRP of their NB500 from $299 to $249 to remain competitive. The NB500 is a Profile 1.1 / BonusView player sold in the US under the brands Philips, Magnavox, Sylvania, Insignia, and others.

Since these are the MSRP prices the players will almost certainly be available for less online, and even at retail. While the NB500′s MSRP has been $299, it has been selling normally at stores such as Wal*Mart and Best Buy (under the other brands) for $280 or less. So the cut to MSRP will likely result in a further reduction in retail pricing.

I expect that this is just the beginning of price cuts for the holidays. With the inevitable sales, there should be some good deals on Blu-ray players. And the price cuts on BD-Live units will finally make them competitive with the PS3, unless Sony also cuts the pricing on those. While an entry-level PS3 remains $400, with the BDP-S350 at $300 (and less online) it becomes an option to consider.

From HD Guru via Gizmodo.

Picked up from TWICE.

As a promotion, between June 8 and June 14, they’re offering a $100 Wal*Mart gift card with the purchase of any Blu-ray player. And, also beginning June 8th, they’ll be pricing selecting Blu-ray movies at only $15, including 3:10 to Yuma, WAR, Shooter, 300, and The Fifth Element.

Their press release announcing the changes:

Jun 3, 2008 11:42 ET

Wal-Mart Boosts Volume of Blu-ray and Hi Def Among More New Electronics Enhancements

Kicks Off June with $100 Gift Card Offer with Purchase of ANY Blu-ray Player

BENTONVILLE, Ark., June 3 /PRNewswire-FirstCall/ — Wal-Mart announced today that it has completed a redesign of its consumer electronics department in stores nationwide, adding hundreds of new consumer electronics models and features. In addition to new product assortment, recent design changes intend to help Wal-Mart customers also better understand the uses and options of many new products in the market, such as the addition of a “hi-def Blu-ray experience area” in 1,200 of its stores.

Details about these new enhancements to Wal-Mart’s electronics departments include:

-- A more than 58 percent increase in assortment of full hi-def
televisions (1080p) nationwide, with the introduction of new models and
brands, such as Sharp, and an expansion in larger TV sizes;
-- A new display center for computers with an expanded selection of
accessories and ink, along with clear signage and better direction to
showcase the right equipment for the right use -- home, school or
entertainment;
-- A social gaming area of increased floor space for players of all ages
to select their favorite live action rockstar game, and even play their
favorite guitar ensemble right in the store,* plus a select area for
reduced price games;
-- An expanded selection of GPS, including touch screen displays in some
stores and in all stores the addition of Magellan to the current GPS
offerings of Garmin and TomTom;
-- An increased assortment of Blu-ray, adding new players such as
Magnavox, Samsung and Panasonic to its Sony line up, plus an increased
selection of hi-def Blu-ray movies in their own designated area.

With these changes, Wal-Mart is making a commitment to help bring Blu-ray and the hi-def TV experience to families everywhere at unbeatable prices. To start, this weekend Wal-Mart is offering a $100 Wal-Mart gift card with the purchase of any Blu-ray player in its stores, June 8 through June 14.

In addition, the retailer will have select Blu-ray movie titles for only $15 starting June 8, including movie favorites such as 3:10 to Yuma, WAR, Shooter, 300, and The Fifth Element.**

“We are excited to be a destination for families looking to create a high quality, affordable home entertainment experience with our new, wider selection of hi-def TVs, Blu-ray players and movies,” said Gary Severson, senior vice president, Home Entertainment, Wal-Mart.”

Among its new consumer electronics department changes, Wal-Mart also has increased its selection in digital photo frames; is offering more values in higher resolution cameras; and has lowered the price of prints in its Photo Services Center to $.15 per print for 100-plus prints. Wal-Mart Photo Services also continues to increase its selection of personalized items, many of which can be ordered with same-day service.

Wal-Mart stores also will carry new music products that represent the way many consumers enjoy their favorite music artists today, including a new assortment of players, downloadable music gift cards, digital album cards, fan membership gift cards, and cards for exclusive ring tones.

The retailer also continues to bring to fans exclusive music CDs and DVDs from their favorite artists. Today, Wal-Mart stores release a new music DVD of live performances from Jimmy Buffet for $10 and the awaited CD/DVD 3-pack from Journey that includes new music, past hits and a new concert performance for only $11.88.

* Social gaming area for live-action play available in 800 stores.
** Selection of $15 Blu-ray movie titles available while supplies last.

About Wal-Mart Stores (NYSE:WMT)

Every week, millions of customers visit Wal-Mart Stores, Supercenters, Neighborhood Markets, and Sam’s Club locations across America or log on to its online store at http://www.walmart.com/. The company and its Foundation are committed to a philosophy of giving back locally. Wal-Mart (NYSE:WMT) is proud to support the causes that are important to customers and associates right in their own neighborhoods, and last year gave more than $296 million to local communities in the United States. More information about Wal-Mart can be found by visiting http://www.walmartstores.com/. Online merchandise sales are available at http://www.walmart.com/.

Photo: http://www.newscom.com/cgi-bin/prnh/20070927/WALMARTCOMLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com

Source: Wal-Mart Stores

CONTACT: Melissa O’Brien of Wal-Mart Stores, 1-800-331-0085

Web site: http://www.walmartstores.com/
http://www.walmart.com/