The latest version of Softimage 3D - version 4 - will now sell for £1,020 for the basic level and £1,700 for the 'Extreme' version. The prices came into effect last Thursday (6 June).
Like Alias Wavefront, Softimage hopes the price reduction will help it sell to a wider range of customers such as students and the manufacturing, scientific and medical industries.
However, Softimage European business manager Richard Craig-McFeely said the difference between the two companies was that Softimage has two products - 3D and XSI - and that there is still growth in the market for XSI at the high end.
Craig-McFeely said: 'The landscape of 3D products has changed. We are not going to cut the price of XSI but we do see space at the lower end without cannibalising the high end.'
This is the second time Softimage has cut the price of 3D - it halved the price a year ago which means the product has fallen from $7,995 (£5,455) to $1,495 (£1,020) in less than 18 months.
There is also an upgrade path that allows customers to obtain a trade-in credit for Softimage 3D v4.0 towards the purchase of an XSI licence.
Craig-McFeely said there was still support and development for the 3D product which Softimage first launched in 1988 and pointed to the recent release of version 4 as evidence of this continued commitment. XSI, now on version 2, was introduced two years ago (Broadcast, 24.5.00).