It has been rumoured that Sony is going to drop the price on the newest model of their Playstation 3 once the existing supplies of the 60gb model have been sold through. They are expecting the old models will be sold out by October which just so happens to be the time that Microsoft AAA titles will be releasing for the Xbox 360. The 80gb PS3 is currently retailing for $599 and the 60gb is selling for $499. With news of future price drops it only leads to speculation that Sony fears they are losing the console war. Sony has a lot riding on their console as it is also pushing their Blu Ray movie format. Consumers will ultimately decide whether this price drop will be enough to keep the PS3 alive and the Blu Ray format for that matter.