The Japanese blogosphere has reported that two first-party Playstation 3 launch titles in Japan will be priced cheaper than new release Xbox 360 games. The titles will include Resistance: Fall of Man from Insomniac, and Genji from Game Republic. The titles will be selling for 5900 yen ($49.50), and will therefore be cheaper (our games are priced at $59.99) than PS3 games in America. There isn’t any information about the pricing of third-party games for the Playstation 3, so for now we can assume they will be retailing for the usual 6800 yen ($58.00).

Gamasutra notes that big titles and RPGs are usually priced higher in Japan. For example, Tecmo’s Dead or Alive Xtreme 2 for the Xbox 360 is currently retailing for 9240 Yen ($79.00). $79.00 for hot video game babes running around in bikinis?! Yeah, I’d probably buy it too.

Sony Prices PS3 Launch Games [gamasutra]