Price Cuts for Xbox and PS2 Imminent?

According to Reuters Newswire, Microsoft and Sony are anticipated to announce price revisions for the Xbox and Playstation 2 at the E³ trade show to be held later this month. Both game consoles are rumored to drop from a $299 price point down to $199. The Xbox has already undergone major price reductions in Australia and Europe. The PS2 has experienced similar recent price reductions in Japan and Europe.

Source: Gamespot