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Reeves said we could see 45nm Cell during the middle of the year, not that there will be a price drop then, infact, his previous statements would seem to rule out a price cut then:

We really believe that what we're doing with the value in the summer, you don't drop the price in the summer. Unless you're a handheld.


Link

More likely we'll see some kind of bundle then, with a real price cut not coming until Q4 '09.