PS3 price cut incoming?

Sony could be looking to drop the price of the PlayStation 3 once more, an MCV report reveals.

The site notes that trade insiders are hoping for a price drop to RRP £199.99 to be announced this August, around Gamescom time. Retail should be prepared to go to £179.99 post-drop, making the system seriously competitive with the Xbox 360’s 250GB model of around the same price.

Of course that could spark yet another drop on the 360’s side, which retails hope will spark life into the market, which has suffered year-on-year in the first half of 2011.