Sony will be releasing a new Blu-ray disc player in the US which will retail for the low price of $500.

The new model, the BDP-S300, will be available early summer 2007 and the $500 will bring it in line with the cost of a PS3 console in the US.

The previous model BDP-S1 retails for $999 at the moment so the new model and price represent a clear effort by Sony to establish Blu-ray as the dominant player in the battle for DVD supremacy.

Apparently, the BDP-S300 is the size of a standard DVD player and will carry the features of the BDP-S1, while also being able to play CDs.

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>> Read - Casino Royale Blu-ray for PS3 buyers
>> Link - Official Site/PlayStation
>> Link - Official Site/Blu-ray