Price cuts have been the central point for a lot of rumors, especially since the economic recession has had a big say in just how much money people can spend on items these days, making them a relatively mandatory solution for keeping sales up.

The gaming industry is now filled with voices that call for both the PlayStation 3 and the Wii to get a price cut in order to be on par with the already cheapened Xbox 360 and to persuade long-time procrastinators to finally buy a console. But time and time again, we've heard people from both Sony and Nintendo say that a price cut was out of the question for the time being.

Now though, GameStop CEO Daniel DeMatteo reveals that price cuts for the PS3 and Wii will almost definitely happen this year, as he has based the financial forecast of his company on these two things. Speaking at a conference call to investors, DeMatteo said that 33.5 million consoles would be shipped this year, if the two Japanese devices got a cut in price.

“That assumes that there will be price cuts on the PS3 and potentially one on the Wii," DeMatteo said but then admitted that “it’s hard to tell if we actually need a price cut on the Wii to get to our numbers. There are some price cuts built into that assumption, but not until the third quarter.”

The executive has revealed that if you take into account the high price of these devices in the economic depression and the relative balance of the price ever since the release of these two consoles, then a cut in price will definitely happen this year, probably before the holiday season.

What do you think? Will a price cut for either the PS3 or Wii, or both, happen at the end of the year? Or will the two Japanese companies stick by their statements and keep it as it is? Leave us a comment with your opinion.