First GameStop cut the price of the PS3 by $50, then Amazon US, now Amazon UK has also dropped the price by a whopping £40 ($64).

If you live in the UK and have yet to get a PS3, be sure to pick one up now. If you don’t, then the deal should still be of interest to you – Amazon US and GameStop’s price cuts could be seen as simply a price war between the two retailers, but with Amazon UK now joining in on the discount , it does seem like retailers are discounting ahead of an E3 price drop, something that has happened in the past. Michael Pachter previously said that Sony needed to cut the price of the PS3 to remain competitive in the US:

PS3 hardware sales should continue to lag those of the Xbox 360, and we expect sales to trend downward by 10 – 20% monthly, until Sony cuts prices once again, likely at E3.

$199 has often been called the ‘magic price point’ where a console finally becomes truly appealing to the mass market, so if a global price drop does happen, it will be interesting to see what this means for the PS3.