http://www.vg247.com/2011/08/22/report-ps3-uk-sales-up-by-65-percent-following-price-cut/

The increase follows a global price-cut for the platform at gamescom in Cologne last wee, with prices being reduced to £199/€249/$249/¥24,980 following an original price-cut at the same event two years ago.

It comes as Sony kicks off a marketing campaign that focusses on the cuts, with a 5,000-strong poster campaign kicking off across the UK high streets from today.

A spike was to be expected. What matters is the baseline the sales settle to after this. Still, over 50% is not bad at this point in the gen I think. I figure Sony will be happy enough with that for the moment. MS will be watching the baseline as a couple of weeks of spike won't bother them but if the baseline turns out to be too good an improvement they'll have to factor that into their own price levels.

already posted

Here in Australia the new price is much more palatable from $500 down to $350 just looks and sounds so much nicer..

EB Games has it even cheaper! $298 for the 160 GB!!! Now THAT is finally a good price in Australia!

agreed finally