PS3 Price Cut Is Imminent?

According to Edge, Janco Partners analyst Mike Hickey has word that there will be a PS3 price cut by Sony in the immediate future after checking with channels recently. A safe figure for the PS3 to be competitive price-wise against the Xbox 360 and Nintendo Wii would be to shave off another $100 from its sticker price in order for the unit to pick up some serious sales velocity if it were to have any hope of overtaking either one rival console within the current generation. Should Sony remain stubborn and not reduce the pricing of their PS3, believing the delusion that folks would actually take up two jobs just to purchase a PS3, chances are PS3 hardware sales will continue to remain in the doldrums (relatively speaking, of course), which could lead to a domino effect of developers shying away due to the possibility of not turning a profit.