Rumours of a big price cut for the PS3 in the US have been confirmed by various sources in retail, though denied by Sony.

Circuit City, the American retailer, had publicised the cut but it was not clear whether this was an official cut or a store promotion until it was confirmed by other sources.

So, it looks as if the Sony console will start to sell in the US for $499 (£248) as of mid-July, meaning a drop of $100 (£55).

However, Sony president Ryoji Chubachi stated that there are "no immediate plans" to cut the price of the PS3.

There’s no news so far whether the cuts will jump the Atlantic but as the PS3 is now over £150 (almost $300) cheaper State side there is sure to be growing calls for a similar drop here.