Would a PS3 price cut do it?

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Stromprophet said: The reason they price cut was because PS2 price dropped and they knew they would not be able to keep their system alive at 300 dollars and compete against the PS2, and also the gamecube which was also cheaper. WAS I THE ONLY ONE GAMING BACK THEN? I don't see how none of you remember this.

Actually, Microsoft was scheduled to hold a press conference on the eve of e3, the info leaked on IGN and others that Microsoft would announce an Xbox price cut at said press conference, so Sony preemtively announced a the price cut first.