Apparently Sony is feeling the heat from Microsoft and is being
pressed to take desperate measures in the face of growing discontent and
rapid transition by gamers from the PS3 to the Xbox 360.

In face of this, Sony has announced that its flagship console will feature a
long overdue price cut of up to USD 100, bringing it to USD 299.99.

For gamers who own a Nintendo Wii or Xbox 360, you’ll be given an
option to trade in your existing console for a brand new PS3 and 2 selected
original titles from Sony (e.g. MLB 08 and NBA 09).

Long suffering gamers can click here for the press release.