PlayStation 3 Price $500?

While there was little doubt the Xbox 360 was going to be a hit in the just completed holiday season, no one was real sure how consumers would react to the $399 price tag. Despite the $100 bump over the launch price of the original Xbox, few seemed to mind. Now, with Sony’s PlayStation 3 looming, it appears another price threshold may be crossed before the year is out.

Sony hasn’t commented on specific pricing figures, though Ken Kutaragi, president of Sony Consumer Entertainment, reportedly told attendees of a 2005 corporate meeting “it’ll be expensive.” Analysts and many video game developers, though, suspect the system may debut with a price tag reaching nearly $500.

CNNMoney