Sony buckles, drops PS3 price by $100

In a move everyone could predict, Sony swallowed their pride and finally dropped the price of the PS3 to $500. Just a bit higher than the most expensive Xbox360 package. This move should increase their sales somewhat, but as usual, they are making broad, boastful claims about it:

“Our initial expectation is that sales should double at a minimum,” Jack Tretton, chief executive of Sony Computer Entertainment America, said in an interview.

Well, whatever. But I guess they figured it was safe to lose some money per console, as Microsoft dropped the big bombshell of extending everyone’s warranty on the XBOX360, costing them over a billion dollars, last week. Plus, Sony doesn’t exactly like being ignored at E3, which starts in a few days.

And the Wii, well you still can’t even find it in stores. Keep on truckin’.