Following the news that Sony has cut the price of the PS3 in the US by $100 comes the confirmation that they are planning to make a major announcement at E3 this week. A spokesperson for the company has said that the announcement will be related to the price cut in North America, spurring the rumour that Sony are planning to announce a similar price drop in Europe and announce the new 80Gb model.

Sony has made a complete u-turn in cutting the price of the the PS3, after chief financial officer, Nobuyuki Oneda, recently said that there will be no cuts for at least '2-3 years', but the turnaround is now said to be the result of a recent drop in the price of Blu-Ray components.

We'll have the news as it happens from E3 later this week.

Source :: Games Industry.biz