Sony have announced a drop in the retail price of the Playstation 3. Don't get too excited though, unless you're in Japan you won't be taking advantage of the 20% cut.

At the Tokyo Game Show, Ken Kutaragi, head of Sony Computer Entertainment, has revealed that the console will now go on sale for ¥49,980 (approximately £230).

"The Japanese users and media would not stop saying a price tag of over ¥60,000, including tax, was too expensive," he revealed.

Yoku Ihara, head of equity research at Retela Crea Securities in Tokyo, responded to the bizarre move by Sony by saying: "It's ridiculous to decide to cut the price before they start selling the PS3. They may cut the price again if sales don't go well."

Whether the rest of the world will hear news of a price cut is unknown. The PS3 will make its debut in Japan on November 11 and in the US on November 17. Nintendo's Wii console will go on sale on November 19 in the US and December 2 in Japan.