Those rumors of a price cut coming from Sony on the PS3 have been swirling for months. There have even been lots of game developers that have pressed Sony to cut the price of tits console but Sony has kept insisting no price cuts were coming.

Sony is expected to make a big announcement at Gamescon today. The expectation is that the PS3 Slim will be unveiled and the PS3 will get a price cut. Kmart has jumped the gun, placed the PS3 slim up for preorder, and has run an ad that talks about the new lower price PS3.

The catch here is that reports say the price cut will only be on the older consoles that may be phased out in favor of the PS3 slim. The price on the existing consoles is being cut by $100 according to reports; there has been no official announcement at this point from Sony.

Engadget