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There is no way SONY will drop the price at E3. TGS is the earliest i can see a price drop happening and even then i wouldn't expect anything huge.

Previously when SONY denied price cuts they would say something like "we have no plans for a price cut at the moment". Now their saying "PS3 is selling to our expectation and were aiming for profitability -- their will be no price cuts for the foreseeable future"

Except SONY to attempt to ignore the 360 price cut and use it aganist M$ when June NPD has them above 360.