Sony cuts UK price on PS3?

Despite a record breaking first two days after launch, subsequent sales for the PS3 have suggested a dramatic drop in sales of 82 percent in their second week.

No official announcement has been made but suddenly UK retailers including heavyweights like Play and WH Smith are offering deals.

Listings are now appearing at the magical figure of £399.99, a £25 reduction, with Play really pushing things to the next level by also including an HDMI cable and a copy of Click on Blu-ray (the only decent Adam Sandler movie ever – oh, ok, and The Wedding Singer). Play calculates a total saving £64.98.

So what is going on here? Consoles are notorious loss leaders for their manufacturers and sales prices rarely ever drop more than a few quid either way from the RRP because there is no margin in it. Has Sony suddenly seen the cold harsh light of day or are stores deciding they'd rather make a loss than a profit? From a distance, both seem equally unlikely.

For now we'll simply have to watch this space. Sony has (rightly) had terrible publicity across Europe for the last 12 months – a PS3 price reduction would be a good way to start rebuilding some of those horribly burnt bridges...

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