According GameDaily BIZ the Playstation 3’s price will be dropped $100 on July 12th. Sony has not confirmed this but they have gotten many reports from retailers that the price will be dropping.

The price drop could be caused by the recent drop in prices of the Blue-laser pick-up heads that are being used in the Playstation 3, read about that here.

This puts the Playstation 3 only $20 more expensive then the XBox 360 Elite. The Playstation 3 has always seemed really expensive but with this $100 price drop it won’t seem so expensive compared to the XBox 360. Let’s face it if you are going to buy an XBox 360 you should buy the Elite because of the larger hard drive, but after you purchase the HD-DVD player add-on, you are now $180 up on the Playstation 3. This means that for the $180 you can get a game or two and an extra controller.

Sounds like Sony is trying catch up with the XBox 360 a bit and dropping the price is the first thing to do, now all you have to do is get a few more good games for the console.

GameDaily BIZ: Report: PS3 $499 on July 12

Playstaion 3

Update: Sony may not have plans to drop the price of the Playstation 3 – Reuters

Update: It has been confirmed