 It looks like the rumor is true, PS3 is getting a price cut! PS3 Fanboy has received some reports from around the nation that PS3s have been sold for $499 today. Here's a rundown of the findings from around the country:
1. A reader confirmed to PS3 Fanboy that he was able to buy a PS3 for $499 at a Target in an unspecified location. The site called up the store and they CONFIRMED that the console is listed as $499 in their computer.
2. Two units were sold in an undisclosed Circuit City location for $499.
3. A Rancho Cucamonga, California Target location has the PS3 listed for $499 in their system.
Also, the piece at PS3 Fanboy has been picked up by Digg and one commenter there has stated that he got one from a Target location for $499.
Another article at Kotaku has even more confirmation of a price cut, with Target stores in Bend, Oregon and Beavercreek, Ohio both confirming that the console is $499. However, they also mention that stores in Los Angeles and West Hollywood, CA, Dayton, OH, Orlando, FL, and Littleton, CO have the system for $599. In other words, this price cut is not Target-wide yet, it's just a few renegade stores breaking the rules and implementing the new price before the "official price cut day".
Kotaku commenter SPIKE1856 offers some insight on Target's price change policy:
"I can tell you why some Target stores have the price cut in place and others do not--Target's price change day for the Electronics department is Monday. If a store's price change team gets ahead of pace, they have the ability to start early on the next day's workload. Since Saturday and Sunday are not price change days, this means that Monday's price changes can be activated on Friday, effectively three days early. The price change team at my store, sadly, is definitely not ahead of pace at the moment and so our PS3's are still priced at $599.99."
Could the price effect be taking effect as you read this? Is it real? Am I dreaming? I don't know, but this whole situation is very intriguing. Tomorrow, I plan on doing some investigative journalism (and buying some DVD-R discs) and seeing if the local stores have the PS3 marked down in their systems.
However, when all is said and done, this is the second worst kept secret of the year, next to the Xbox 360 Elite. I bet Sony is wishing they could be more like Paramount Pictures and the trailer for that new J.J. Abrams movie. Seriously, go to that link, it's incredible.
UPDATE:
I went to the local Target in Mankato, Minnesota, and here's what I saw under the PS3s they had...
Sorry for the crappy camera phone photo, it's all I had at the time.
PS3 is now Four Hundred and Ninety Nine US dollars...
 A price cut for Playstation 3 could be coming sooner than you expect if Sony CEO, Sir Howard Stringer, has his way.
In a recent interview with the Financial Times, Stringer said that he knows consumers want a lower price for the PS3, and that his company is currently looking into how much they can cut the price by. Then, when asked if they would "come up with an aswer by Christmas, he responsed "Yes, of course."
Not entirely related to the PS3 price cuts, Stringer observed that PS2 is selling "gangbusters" and that dropping the price on PSP has sent sales "into an upward spiral". Why do I mention that part? Because I find it funny that a CEO used the word "gangbusters" in an interview.
Another interesting fact Sir Howard stated is that "While people have not bought as many PlayStation 3s as it looks, it is no different from PS2 and PS1 in terms of percentage of sales."
When asked about the Nintendo Wii, Stringer said, "I would be the first to say to you that Nintendo Wii has been a successful enterprise and a very good business model compared to ours... Because it's cheaper." Should I call Sir Howard, Sir Obvious?
And what is an interview with a Sony executive without an utterly mind boggling quote? This time it comes when Mr. Stringer was asked if the Wii might be considered more creative and fun. "No, no. Fun is in the eye of the experiencer... I think PlayStation 3 is following a particular trend of 1 and 2, and if you looked at the history of it, it's a very similar history." Anyone care to make sense of that quote for me, because all I can come up with is that PS3 is following the same trend of PS1 and PS2. I don't see what that necessarily has to do with the Wii.
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