http://www.gamesushi.it/html/news-Posizione_di_SCEI_su_PS3_a_199_presso_Mediaworld-1031.html

To summarize the translation, they think that considering that PS3 is up YoY by a huge percentage, underpricing it is not justified and sensible and this move can trouble the market and confuse buyers.

I'd say only one thing: MediaWorld states the offer is valid until 31 Dec but also "while stocks last", and the stocks, 5000 units, were sold out in the first day, the ambiguity of their leaflet will most probably piss off a lot of buyers cheated into driving to the suburbs to pick one up and being told there it's not available anymore. Considering how huge is the discount and MediaWorld size in Italy, and that we are in full Xmas season, a 5k stock could have been enough at most for a one week only limited offer (and it lasted even less anyway), for all the month is simply ridiculous, this time MediaWorld, that normally keeps very good stocks for its best offers, unlike Euronics, was clumsy or sloppy to say the least. And Sony could be blamed and pay some consequences on sales for errors that this time it's innocent of. Wal-Mart in USA did these things in a much better way, they knew their offer for XB360 couldn't last very long despite the huge stocks and they put more realistic time limits, although they too sold it out even faster. But doing such an offer with limited stocks and at the same time stating the offer lasts all the month like MediaWorld did is really stupid and disrespectful to buyers.

They don't have phones in Italy?

Normally big chains publish phone numbers for their base and they aren't very helpful, even less about local stores issues.

And the leaflet is misleading, common people read that the offer lasts until 31 Dec and they read there's a stock in the thousands, but they don't know that stock will last only one day. And usually, except for the cheapest digital cameras on offer, MediaWorld stocks for their offers are usually good, I never had bad surprises except for the camera, that I eventually bought at UniEuro.

I'm not sure what you mean by "base", like their headquarters?
That's strange you would think they'd want their customers to have their phone numbers of local stores. I just go on google maps type in a store name and it will give me the location, hours and phone number of all those stores in the given region that I am looking at. Or I could just use the company website but you don't get an interactive map layout like on google maps.

What's the big deal?
It's a good price, but still comes out at about 292US$.

Lower price = more system sales. Who cares what price Sony wants the PS3 to be sold for? The retailers can sell the systems at whatever price they see fit.
Under pricing the PS3 by what 10 measly dollars? Sheeh. Selling it for US $290 instead of US $300. Sony must be a Xmas grinch.

You don't even look at the article, do you?

Yes, headquarters.

You have to look on their web site to get local numbers, people looking for phone numbers on a phone directory, the vast majority, should know its company name, that is neither "MediaWorld" nor its German owner "Media Markt", but "Mediamarket" in Italy, this name takes you to both Saturn and MediaWorld shops (both chains are owned by Media Markt) without indicating which, you have to remember the street name to pick the right number.

@manuel: For EU is a very good price, list price is 299€ and best offers elsewhere are currently at 255.90€ searching on kelkoo. BTW it includes VAT, as usual in EU end user prices.

If you haven't noticed not whole world uses US dollars.

Never knew we used dollars in the EU and that 100 euros equalled ten dollars ...