Sony is to slash the price of the PlayStation 4 in an attempt to win back gamers who are paying on smartphones instead.

The price will be cut by 10 per cent in Japan. That will make it much cheaper there than it is in its other big markets of Europe and the US, which might also see similar price cuts later.

A Sony spokesperson declined to comment on whether the price cut would be brought to other markets to the Wall Street Journal, which first reported the news.

After the cut, which will be introduced from next month, the PlayStation 4 will cost ¥34,980, or the equivalent of $292. The consoles cost $399 in the US, and the equivalent of $450 in Europe.

The PlayStation 4 was unveiled to much praise and commercial success when it was introduced in November 2013. But sales in Japan seem to have slowed, according to third-party estimates, amid increased competition from smartphone games.

Other companies have seen similar difficulties. Nintendo launched a new tie-up with a mobile game maker earlier this year, in an attempt to bring its successful franchises to the phone market.