Rumors around the PS3 price cut have been flying all over the internet for about two weeks now; Sony has finally put these rumors to rest by announcing the new price of the 60 GB PlayStation 3, which is USD $499. The price drop is only effective in North America as of now, but I suspect that it’ll soon hit other regions as well. How long will it take for the Indian PS3 to shed a few thousand Rupees from its price? ... Only time can tell. We’ll let you know as soon as we scoop out something about it.
[Via 1UP.com ]
Yeah, Sony India has this atrocious markup on all their products. Until they stop getting greedy, they'll never get their market share up again. 
