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The E3 2005 meme with Sony CEO Kaz Hirai stating that the PlayStation 3 would be $599 will probably never be forgotten. But according to Shuhei Yoshida, Sony has learnt from the mistake they made with the console's high price point and they will put that into practice with the NGP.

Speaking to Edge Magazine, Yoshida said "It's a big lesson we learnt from the PS3. There's no point putting everything you want into a device and doing the math later. We always had the price and consumer in mind. We had to sell something that people could buy."

Sony Computer Entertainment Europe boss Andrew House previously stated that the NGP would be "affordable".

Source

$299 PSP2 here we come :)