Reports from June that Sony would drop the price of the PlayStation 3 at Gamescom have turned out to be accurate. Sony announced moments ago that it's dropping the price of its 160GB console to $249.99 effective immediately.
It's been quite a while since the last PS3 price cut. Along with the unveiling of the PlayStation 3 Slim in 2009, the price of all older models were dropped to $299 to match the Slim's new price -- where the system has remained until today.
This now puts additional pressure on Microsoft, which has also gone without a price drop for some time and now has less of a barrier between 360 and PS3. There was a great deal of speculation that it would be slashing the 360's price at E3, but with the system selling very well in the United States as of late, it may not have made sense to do so then. With the PS3 now available at a lower price, that could cut into 360 sales as we approach this holiday season. Nintendo, meanwhile, cut the price of the Wii just a few months ago.
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