Sony has cut the price of its Tablet S by $100, in an apparent effort to make it a tad more competitive.

The hottest selling Android tablet right now is Amazon’s Kindle Fire, which costs $199. However, even with the price cut, Sony’s 16GB Tablet S will still come in at $399, which is pretty close to iPad territory. The 32GB version now costs $499. However, compared to other dual-core Android tablets, it seems fairly priced.

In addition, Sony will throw in some free content as well, including five movie rentals, five free PlayStation Store downloads and a six-month membership to Music Unlimited. An ICS update is also on the way, but it is unclear when Sony will roll it out.