PS3 Price Cuts Just Rumors, Says Sony Pres

By Nick Mokey July 5, 2007

PS3 Price Cuts Just Rumors, Says Sony Pres

Although the Web was alight Friday morning with news of a $100 price drop on Sony’s PS3 console in the United States, Sony’s president, Ryoji Chubachi, later stepped in to squash the rumor. “We have no immediate plans as of now [for price cuts,]” he said in an interview on Friday, according to Bloomberg.

Rumors began to swirl over a price drop when members of the forums at DVD Talk uncovered a future Circuit City flier for the week of July 15 through 21, which had the price of the PS3 marked down to $499. The price drop seemed even more definite when gaming Web site Kotaku produced a scan of the flier in question. GameDaily BIZ later reported that an anonymous retail merchandising manager had confirmed that the PS3 price cut would be “retail-wide.”

It isn’t clear whether the ad was a hoax, a mistake on behalf of Circuit City, or whether the retailer really intends to drop its PS3 prices $100 below the competition. A spokesman for Circuit City declined to comment when approached by Bloomberg.

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