Sorry everyone here in the US looking at the Japanese PlayStation 3 price cut to come our way; it isn't happening, at least for now. Sony has stated that the recently-announced 20 GB PS3 price cut over in Japan is region-specific and won't find its way Stateside in time for the PS3's launch, which means that enjoying Sony's new console will cost US buyers at least $499, though it's more likely that early adopters will need to opt for the larger (and more expensive) 60 GB PS3 due to Sony planning to focus 80% of its launch quantity on the premium model.
It's possible that we might see a price cut later on, but probably not for quite some time. Sony is losing an insane amount of money on each PS3 it sells, so it stands to reason that they're going to look to recoup (or lessen) their losses in some areas. The Japanese price cut will probably remain out of our reach until the PS3 starts turning in a profit and Sony can afford to slash the prices. Either way, prepare to pay a pretty penny come November for this bad boy.