GameStop Expects PS3, Xbox 360 Price Cuts

While a $50 price cut for the Xbox 360 has pretty much been confirmed from retail sources, GameStop has revealed that it expects both the PS3 and Xbox 360 to undergo $50 price cuts by the end of 2008.

Sony executives have previously stated that the company would not drop the price of various PS3 units this year. However, the company recently introduced an 80GB model at $399, the same price point for the old 40GB model, as well as a 160GB model for $499.

The Xbox 360 is expected to get a price cut by September 7.