The HD consoles of this generation are hitting the halfway point of their life-cycles and it’s around this time where we experience the inevitable price wars. Microsoft fired the first volley with the Xbox 360 Slim Arcade unit at $199.99 late last year, and now it’s Sony’s turn to enter the battle.

Rumors out of the UK indicate that Sony may announce a price drop for the PS3 at the Gamescom conference in Cologne, Germany this August. Industry analysts are saying that Sony will drop the price of their console to £199.99. If this is to be believed then we in the U.S.A. may also see a price drop.

[Update: Sony DID announce a PS3 price drop at Gamescom 2011!]

With all the issues Sony has been facing, it would make sense to drop the price to convince those who were scared away by the recent attacks to purchase the console. This may even bring back those who jumped ship due to the PSN outage. Regardless of the results, you’ll find very few people who will complain about a price drop, especially on a powerful game console/Blu-ray player.

For those who don’t remember, the first rumors about the NGP – now the Vita – came out of Gamescom last year. It won’t be a surprise if we get some info about a price drop at this year’s conference. We’ll also probably get some more info regarding new titles and features for the Vita, perhaps even an official release date. What titles will you like to see on Sony’s new handheld?

One thing we definitely won’t see is the PS4. Sony president Kaz Hirai stated back in February that he wanted to focus on the PS Vita and PS3 for the next few years before announcing their new home console.

If you don’t already own a PS3, will a price drop persuade you to make the purchase? Or are you perfectly happy with your current console or PC?

Source: MCVUK