Sony dropping PS3 price by US$100 on July 12?

An unreleased US Circuit City promotional flier surfaced on Thursday showing a PS3 "price break" of $100 to US$499. One anonymous retailer confirmed the "retail-wide" price drop, however, Sony President Ryoji Chubachi denied the rumor on Friday.

"At present we have no plans," Chubachi told Reuters when asked whether Sony would cut the PS3 price.

However, the Circuit City flier/brochure for the week of July 15-21 shows a US$100 "price break" courtesy of Kotaku.

"Circuit City hasn't announced any sales price on the PS3, so we have no comment on an unsubstantiated rumor," a Sony spokesman told us late Thursday.

But despite repeated denials for comment by Sony, one of the world's biggest retailers anonymously told Game Daily that a retail-wide PS3 price drop to US$499 would happen on July 12, a day after Sony's Electronic Entertainment Expo (E3) Press Briefing next week. It has been suggested by various gaming publications that Sony's refusal to confirm the price-drop is due to an intended official announcement at E3.

If this proves to be the case, we can expect a similar price drop to occur in Australasian territories.

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