Sony today cut prices on its proprietary Memory Stick storage format. The 128MB Memory Stick, which now carries a US$149.95 price tag, sells for almost half of what it did before. New pricing for the other capacities follows: 8MB ($24.95), 16MB ($34.95), 32MB ($49.95), 64MB ($79.95). Sony also reduced prices on its Magic Gate Memory Sticks, which feature a chip that protects digitally secured and copyrighted material: 32MB Magic Gate ($69.95), 64MB Magic Gate ($99.95), 128MB MagicGate ($169.95). Sony plans on releasing a 256MB later this year or early next year, followed up by a 512MB Memory Stick. By the end of 2002, the company expects to have a 1GB Memory Stick. Meanwhile, Lexar Media, which also manufactures Memory Sticks, said it would reduce prices appropriately.