Rumor - PS3 Price Cut Coming Next Week

Could the price break that we've all been waiting for finally be coming? Rumors floating around the net indicated that the PS3 will drop down to $499 next week.

The rumors come from individuals that have scanned in a new advertisement from their local Circuit City. The ad shows the Sony PS3 listed as $499, rather than the $599 price sticker that we're used to. An anonymous merchandising manager has come forth and said that this price cut was issued by SCEA, and will be reflected at all major retailers.

Unfortunately, as with all anonymous sources, there is a level of skepticism that comes with the story. While I don't doubt the validity of the newspaper ads, it's hard to say if the merchandising manager can be taken as a reliable source. I for one tend to think that it is true. Sony has been kicking around the idea for some time now, and with E3 next week, I wouldn't be surprised to hear an announcement from them.

Report: PS3 $499 on July 12 [via gamedaily]