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The competition in the highly anticipated console war is undoubtly heating up, and it's getting worse, as Sony just announced that the Japanese version of their console will get a price cut. The decision was made after several complains from both developers and retailers.

The price will be cut to 47,600 yen, or about $410, from an originally planned 59,800 yen, or $515. Sony will obviously benefit from this in the console war, but as we all know, the Wii will have a much lower price tag, and the PS3 is still the most expansive home console in the next generation.

Unfortunately for those who are planning on buying Sony's Next-Gen console in Europe or US (and fortunate for Nintendo and Microsoft) , the price reduction will not have en impact on those markets, according to Sony's spokeswoman Nanako Kato.