Sony CEO: PS3 price drops in the works

In a move that's set to surpise, well, pretty much no one, Sony CEO Sir Howard Stringer says his company is looking into lowering the price of the much-maligned PS3. With sales lagging behind those of the Wii, Xbox 360, and DS, Sony's been struggling to move units of a console that's at least $200 more expensive more than the competition without a very impressive library of games.

The $600 price of the PS3 is expected to drop sometime before the holiday season, perhaps timed with the release of the much-anticipated Grand Theft Auto IV. Personally, I won't even consider buying one 'til it hits $400, and even then they'd better start releasing some seriously good games that aren't available elsewhere. If the Final Fantasy and Metal Gear Solid series went cross-platform the PS3 would be dead in the water. At least you've got that, Stringer.

Financial Times, via GameDaily