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If you're tired of being annoyed by GameStop and Best Buy employees about picking up "protection plans" for your new consoles, Sony has the answer: It's starting to offer its own. Sony’s Glenn Nash tells us that the PlayStation Protection Plan was created for "consumers looking for added peace of mind ... interested in an extended service plan that's backed directly by SCEA and leverages our technical expertise."
If you are still within the one year warranty that you received with your console’s purchase; the PlayStation Protection Plan lets you extend the warranty of your PS3 or PSP. Additionally an accidental damage plan is available specifically for the PSP just in case you sit on it or drop it on the pavement during your morning jog.
Pricing is as follows:
Sony mentions the PlayStation Protection Plan is made possible due to the low failure rate of the consoles. It is charming how gracefully Sony can backhand Microsoft and their 50% hardware failure.