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I don't think Sony will cut PS3 this summer. They have seen that a price cut in PAL regions has had very little affect on anyone's sales trends. So, now they will see the price drop and wait a few months to see how things level out.

IF 360 shows a large steady gain in that it is now back to constantly outselling the PS3 we can expect a similar price drop just before the holiday season.

HOWEVER, if the 360's gains are only for a month, as I expect, Sony will hold its current pricing until next summer when they can afford to drop the pricing and still be profitable.