If you want a PSP but haven’t shelled out for one yet, then you may want to hold off for a little while. Analysts expect that the price of the PSP is about to be dropped by Sony to $150, a savings of $50.

Sony hasn’t said they will do this yet, but they are believed to be stockpiling the devices, which would indicate that this makes sense. It’s also speculated that Sony may bundle a game or two with the devices at the lower price.

The move is an attempt to grab some momentum for their devices and away from Nintendo. Sony has sold 20 million PSPs (just slightly less than the Nintendo DS), but Nintendo is selling better now, led by the surprising success of Brain Age and Nintendogs.

The last big success for Sony was Grand Theft Auto, and that was almost a year ago. By lowering the price to $149 the PSP will be closer to the $129 Nintendo price.