Sony Playstation India has announced a 15 per cent cut in the PS3 prices for the Indian market, which basically follows the international price cut for the product. The basic idea behind the re-pricing decision is to offer a competitive price vis-a-vis PS3′s key market rival, Xbox 360.

The PS3 320 GB Move bundle will now be available at INR 20,000/-, while its original retail price was INR 23,500/-. Similarly 160 GB PS3 will now cost you INR 17,000/-, and not INR 20,000/- that had been its price so far..

By the way, if you have not bought the PS3 so far (what a sigh of relief, right?), and are now planning to buy, then please do not rush right now. The new prices will be applicable only from September 2011. So please hold your patience till then, and go ahead only after you are sure that the new prices are now there in place.

Sony has already made it clear that it has no immediate plan to launch a PS4. It will rather focus on PS3. So it will not be too much to expect something more, be it further price cut or addition of new features. Let’s expect a field day for gamers.