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nordlead said:

Nothing. If I cut prices, then it would be a sign of weakness, and the competitor would know that I don't think my product is worth the asking price.

People should want to work 2 jobs just to play my system

Exactly. Pricing prestige ftw !! Its all about value perceived and the relative prices customers would pay for a high value quality product and at its current price point I'll actually say the PS3 is pretty cheap =]