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60GB PS3 sold at Target for $499.99 [UPDATE]

Has the price cut already been put into effect? Potentially, yes. One of our readers has let us know that he was able to get his hands on a 60GB PS3 for no more than $499.99 at a Target today. In our attempts to verify this we called the store he bought it from. They confirmed that the 60GB PS3 was, indeed, in the shop's system at the price of $499.99. Whether this is an error on the individual shop's part, with the price drop being put into effect early, we weren't sure.

We are currently in the process of calling more stores nationwide, to see how isolated this event really is. We will update this post as and when we get more information. If true, then this is an excellent start for what promises to be an excellent E3. Already Microsoft's keynote is overshadowed by Killzone 2. A pricedrop by Sony before the event even starts only adds to the pressure.

[UPDATE 1] A Kansas Target has the 60GB PS3 in its computer at $599

[UPDATE 2] Another tipster has told us that today they sold two at Circuit City at $499. Confused, the manager called it in and got a confirmation that it was correct. We are in the process of verifying this.

[UPDATE 3] A Target store in Rancho Cucamonga in California has confirmed that the 60GB PS3 is in their system for $499. It looks like there's no pattern to which stores are and aren't offering the price cut.

[Thanks Nathan and Alexander!]

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Reader Comments

(Page 1)

1. Are people still doubting this price cut? This is more obvious than Microsoft denying the release of the Elite, even with the leaked pictures of the Elite in production. It's gonna happen, and if Killzone 2 blows my mind I might buy a PS3 the very day the price cut comes into effect.

Posted at 9:10PM on Jul 6th 2007 by TheGuy

2. seriously had anyone heard of the eb games deal trade 10 games and get a ps3 60 gig for 399.99? CANADIAN? so the americans don't get this deal?

better yet the same deal for the elite is 100 bucks less so 299.99 for an elite and an extra controller... i'm sure gamers have tons of ps2/gamecube/xbox games laying around waiting to be traded for some next gen unit.

Posted at 9:18PM on Jul 6th 2007 by philmcneal

3. It's sad but Mr Nakabachi, the president of SONY officially denied the rumor and said there is no price cut at least for now.


Posted at 9:24PM on Jul 6th 2007 by Gus

4. I'm just curious how Killzone 2 overshadows the MS press conference? Killzone was an average rated game that sold just OK. They had a CGI trailer put out months ago that the final game will not look like. I have a PS3 and don't really even think about Killzone 2. I need to be shown something interesting before I can start being interested in it.

Don't get me wrong, Killzone 2 could turn out to be the greatest game ever. Until they prove that, I just don't see it overshadowing anything.

Posted at 9:29PM on Jul 6th 2007 by Hoffer

5. Interesting. Looking forward to seeing the sales numbers next week.

Kind of wishing that we still had the 20GB SKU so we could directly compete with the Premium though.

Posted at 9:30PM on Jul 6th 2007 by upz

6. Hoffer, I think history's shown that hype is better at overshadowing the competition than any real product possibly could. I remember the poll on GameFAQS after E3 05 (where among other things, the CG Killzone trailer was shown) asked which of the Big 3 had the best press conference and the overwhelming majority screamed Sony. This is the same Nintendo-worshipping GameFAQs that has Mario Kart picked as the best racing game of all time on today's poll!

With that in mind, even if Killzone is a total dud, the unveiling will definitely take some eyes off the MS press conference.

Posted at 9:36PM on Jul 6th 2007 by upz

7. Most of you don't know how pricing works. Any store can sell a PS3 at any price they want.

The other matter of pricing (the one that got you all excited) is the minimum advertised price. This is a price that is agreed upon by the retailer and the manufacturer. You go below this price in advertising (important distinction here) and you stop getting shipments.

So for example, if Best Buy wants to sell it at $499, they can go and do that all they want. Sony can't do anything about it. Best Buy just can't advertise the PS3 at $499. They do that and they'll stop getting shipments from Sony.

Posted at 9:43PM on Jul 6th 2007 by Giao

8. Giao, you are wrong. Stores can not sell consoles at a lower price then what the manufacturer says they can. Even wal-mart who is known for selling items at 2 to 3 dollars cheaper then other stores cant do it. it has to be the exact price. They can do discounts on taxes and do package deals but not the set price for the console. The same goes with Apple Ipods, that stuff is regulated by Apple themselves.

Posted at 9:55PM on Jul 6th 2007 by Se7enwolf

9. Se7enwolf, strange that you should mention Wal-Mart since I'm former Wal-Mart management. If all retailers are bound by agreement to sell an item at a price set by the manufacturer, then effectively all retailers have strayed dangerously close to price-fixing. Price-fixing is illegal incidentally.

Posted at 10:05PM on Jul 6th 2007 by Giao

10. yes all stores do try to go as low as they can without losing money but enough to make a sale but when a price is set publicly by a manufacturer then all stores must abide by that. Only certain items for web deals can be done after a certain time. Go ahead and call up the marketing management for any retail store and ask them.

Posted at 10:18PM on Jul 6th 2007 by Se7enwolf

11. I just wish that it had remained a surprise.

Posted at 10:19PM on Jul 6th 2007 by Henry

12. Does anybody know if Target price adjusts? I bought mine at Target on the first of this month, and I'm wondering if there is any possibility of me getting $100 back if the rumor is true, which seems like it is. I really should have bought it at Circuit City which has a 30 day price guarantee. I heard Target has a 14-day period, does anybody know if this is true?

Posted at 10:33PM on Jul 6th 2007 by FAZER

13. I have a PS3, but $499 is still a lot of money. I remember the original Xbox at $299 was crazy expensive. It's just a console, why are we paying a down payment for a small car?3

The PS3 at $399 is the right price.

Posted at 11:00PM on Jul 6th 2007 by Aztec_MC

14. I work at a Gamestop that's located in a Target shopping plaza, and I've already had a few customers tell me that the Target is selling PS3s for $499. I haven't heard anything from corporate about a price drop yet....

Posted at 11:08PM on Jul 6th 2007 by Terrence

15. So who lives near Rancho?

Posted at 11:38PM on Jul 6th 2007 by prodigy311

16. #16

Actually I do, I live about 25mins away.

Posted at 11:55PM on Jul 6th 2007 by Michael

17. The San Francisco Bay Area Fry's advertisement shows the system at $599.99 with the whole 5 free Blu-ray movies deal. That's it though. Usually Fry's is a reliable retailer when it comes to low low prices.

That sounded such like marketing cheese. I promise I won't do it again!

Posted at 12:08AM on Jul 7th 2007 by Nick Kosmides

18. Target at Denver West here in Colorado is still at $600.
Wonder if this was actually planned... create a bit of a buzz before e3 about the price drop, show some amazing stuff at the show, and then send out all those ps3s that we keep hearing they were increasing production on?
Probably not the case, but this seems like a decent way to start a bit of a fire before you pour the gasoline on it, and anyone who doubts that Sony won't have some interesting stuff to show at E3 is dreaming.

Somewhat poor timing for MS; they just announce they are finally doing something about the RRoD, and Sony comes along and squashes that announcement with a $100 price drop. Considering how much MS has spent on exclusive deals, and how much they plan to spend on fixing broken 360s, can they even do a price drop at this point and still hope to make a profit like they said they were finally going to? I can't imagine investors would be real happy with that move...

Posted at 12:10AM on Jul 7th 2007 by mccomber

19. whoa mccomber i live right by the d-west target never woulda thought to see anyone live near it to on this site

Posted at 12:46AM on Jul 7th 2007 by T-Mape

20. I work at a Target in New Jersey and i can also confirm this rumor. On my computer it said that the 60 Gb PS3 will indeed sell for 499.99 but startin on July 15

Posted at 1:04AM on Jul 7th 2007 by Jason

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