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Select K-Mart stores this week began to honor a 20 percent off coupon for Sony Corp.'s Playstation 3 hardware at brick and mortar locations.

Members of deal website [Register or Login to view links] this week confirmed that the coupon could apply to the latest Playstation hardware to provide a substantial discount to either the 40GB or 80GB SKU.

The coupon is a valid for one week between Nov. 11 and Nov. 17 on one item in the store.

The 40GB PS3, which features built-in Wi-Fi and a copy of Spider-Man 3 on Blu-ray disc, typically retails for $399. The 80GB version, which features limited backwards compatibility, is sold for $499.

Sony released the 40GB PS3 this month to spur sales at U.S. retail. The $399 option is the lowest-priced SKU to date and will likely attract buyers to the hardware and Blu-ray disc technology this holiday.

Sony last month said that losses caused by the PS3 game console may near $1 billion, an increase from a prior estimate of $876 million.

The company in Oct. recorded a 96.7 billion yen loss in the game division that was offset by a quarterly profit from strong electronics sales.

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