PS3 $499 Starting July 12th
A PS3 price cut rumor spread like wildfire across the Internet this afternoon when several sites spotted a new advertisement from Circuit City. The ad as seen on Kotaku lists the PS3 console at $499.99, $100 less than its current price
Although Sony has yet to confirm a price drop officially, GameDaily BIZ has received confirmation from the retail sector that the PS3 will be dropped to $499 next week. Sony itself recently talked about "refining" the PS3 price. Now it appears to be happening.
Source: Game Daily