Over the past few months, Sony has denied all speculation that a PS3 price cut was coming. Though it looks as if that’s no longer relevant. Speaking with the daily Yomiuri Shimbun, Sony president Ryoji Chubachi stated that Sony "does not rule out the possibility of lowering the price."

Wow! So a PS3 price cut is possible now. Chubachi went on to say that the company would make a full assessment of the competitive situation in the home video game market.

Price cut by E3? By Fall? Hopefully soon.

Sony mulls cutting PlayStation 3 price [Daily Telegraph]

Read more: Sony Considers “Refining” PS3 Price, THQ Boss Downplays Talk Of PS3 Price Cut At E3, Rumor: PS3 To Get $100 Price Cut July 15, Report: PS3 Slim Arrives In Europe Next Month At 299 Euro, Pachter: Sony To Cut PS3 Price In 2008