$299.99 USD for a Playstation 3 looks like a steal. Rumors are floating around that this is becoming reality, and before the end of January 2008. Is it possible?

We contacted some of our insiders to get the latest scoop on this rumor and see if it had any fact behind it. We were skeptical, after all the PS3 just received a price-cut in November.

The Playstation 3 IS in fact getting a price-cut. A new model, will retail at $299.99 USD, the announcement will be made January 28, 2008, and the new price will take effect Friday February 29, 2008. There are two main reasons as to why the Playstation 3 is getting this price-cut.

Reason 1: The playstation 3 production costs have decreased tremendously over the past couple of months. What used to cost $800, now cost less than $400.

Reason 2: Time Warner. In exchange for Time Warner’s exclusitivity (and an end to the format war), Sony has promised to reduce the price of the Playstation 3. As many of you know the Playstation 3 is equipped with a blu-ray disk drive, and the more the Ps3 sells, the greater the chance of Blu-Ray’s success.

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