There is a rumor all over the net stating that the PS 3 is about to get a price drop. It all started when a poster named speedy1961 on DVD Talk Forum stated he was holding the July 15th-July 21st issue of Circuit City’s ad which talks about the price drop for PS 3.

This is the week after E3, and according to many websites, Sony’s President Ryoji Chubachi has said, "At present we have no plans," to cut the PS3 price, but if you hear what he says, there is not a permenant denial, just a "not at this time". With E3 coming up this next week this could be the perfect time to make such a big announcement.

According to my local sources with some of the biggest retail names, the ball is already in motion, and the price drop is eminent.

Editorial:
Ive always said that I thought that the 360 was going to see a price decrease to $199 during the holidays this year and distance itself from the PS 3 even further, now its almost has to happen, but will we see it sooner than later. If my sources are right, this caught Microsoft, let alone the rest of the world off guard. I’m sure in the Microsoft compound there is a lot of scrambling.  I haven’t been able to get a comment out of anyone up there and until they can come up with an answer, I don’t think we will.

So you can say you saw it here first, the 360 price is dropping and they aren’t going to wait for the holidays.

Talk about it here in our forums.