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It is good to see competition in the video game market. The PS2 monopoly of last generation has been broken with Wii and X360 both doing well this generation in competition with PS3. Wii is the PS2 of this generation.

PS3 will have to wait until March 2009 for the next price cut at the earliest. PS3 will have to rely heavily on its brand name and new games launched over the next few months to keep in touch with its main competition the Wii and PS3 is expected to edge out the X360 in sales over the holiday period in Europe.

PS3 and X360 are expected to finish neck a neck over the holiday sales period. PS3 in 2009 with a price cut + more exclusive games is expected to heavily outsell X360 and narrow weekly sales gap on Wii.