Rumors are circulating around the Internet that the retail price for the Sony PlayStation 3 will indeed be cut to $499 from $599. This all started when a Circuit City ad for July 15th was posted onto the net showing a price cut of $100 on the PS3. GameDaily BIZ then confirmed through their sources that the price cut was indeed retail wide and would begin on July 12th. Ads for the price cut should begin showing up on July 15th. No word from Sony as of yet but this is contradictory to what Sony President, Ryoji Chubachi, had stated on Friday - claiming that there would not be a PS3 price cut. It’ll be interesting to see Microsoft’s response should the price cut happen. Could we see a small next gen price war?

For those of you thinking about jumping on the Blu-ray bandwagon, this price drop would certainly be a welcome sight to see. I’d much rather purchase a PS3 with Blu-ray for $499 than a Sony standalone Blu-ray player for $499.

[Check it out via Krunker]

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