PlayStation 3 price cut coming next week?

Sony discontinued its 20GB PlayStation 3 in North America in mid-April, and the only remaining model of the console on sale is the $599 80GB flavor. However, GameDaily reports Sony intends to slash the $599 PS3's price on the three-month anniversary of the 20GB model's discontinuation.

Based on information from a merchandising manager at "one of the world's biggest retailers," the site says the 80GB PlayStation 3 will drop in price from $599 to $499 on July 12. A Circuit City ad nabbed by the folks over at Kotaku appears partially to confirm the rumor. The ad quotes a $499.99 price (with mention of a "$100 price break") for the PlayStation 3, stating the cut will be effective on the week starting July 15. According to GameDaily's source, July 15 is when the first wave of ads for the PS3 price cut will roll out. (Thanks to Shacknews for the tip.)

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