Price Cut for the PS3 - This Time, For Real

A recent news post I just happened to stumble on says that Howard Stringer, the chief executive of Sony Corp. told the Financial Times that the company is looking to "refine" the PS3's price. This may just be the first real confirmation of a future price reduction for the PS3. But there's more. As Sony is looking at a total loss of $488 million in their games division this fiscal year, the company may cut the price by even more than just $100.

Howard Stringer admits in his interview with the Financial Times (not exactly a concise Q & A) that Nintendo has a "very good business model." More than that, he reckons that the Wii and the PS3 are "complementary and supplementary" consoles. OK, we believe that. Now, here's the good part. These exact words came out of the man's mouth: "That [price cuts] is what we are studying at the moment. That's what we are trying to refine," as Joystiq reports.

But the same site also makes a very interesting observation. Given that the PS3's sales have been "lackluster" - because they chose a high price point and the selection of software wasn't exactly a winner either - Sony may just consider cutting the PS3's price by even more than just 100 bucks.

You see, the world expects Sony to slash $100 off that price tag, while gamers have probably made up their minds. Now, even if they did bring it to $499, that would still make it more expensive than the Xbox 360, its rival. More than that, Microsoft may very well decide to cut the price on their own system as well, again leaving Sony's PS3 the most expensive of all, and sporting the lowest number of titles.

However, if Sony decides to slash more than just 100 dollars, things could get really interesting. One notable aspect is that Microsoft would also have to consider a price reduction for the 360, in order to even things up, which may or may not be in concordance with their plans. But most of all, PlayStation lovers will simply freak out to know that, as soon as the next day, they'll be able to afford it. Well, more or less...

Can't wait to see what happens!