Word on the street is that PlayStation 3 and the Xbox 360 could get some price changes later this year. According to the rumor, Sony could be planning an entry-level £200 (or $295) version of the PS3 that offers a smaller hard drive with a single controller.

While the Microsoft side of the rumor says that it might include the upcoming Natal with the Xbox 360, though there is talk of a possible version of it without Project Natal going for less than £100 ($147). And IF the rumor is true, Nintendo is also looking at a price drop in order to compete with the Xbox 360 and the PlayStation 3.

Looks like Nintendo is being a bit of a grinch, by saying that there are no plans to cut the price on Wii systems. This comes straight from Nintendo president Satoru Iwata, in response to recent speculation that a Wii price cut could be in the works. It seemed likely since manufacturing costs for the console have supposedly dropped quite a bit recently.

According to Iwata, they won’t be driving up sales numbers with a price cut. Instead Nintendo will put “more energy and time into making better entertainment so that our products are going to remain in the top position in our customer’s wish lists”.

Microsoft has officially given the Xbox 360 HD DVD player a price slashing by $50. This brings the player down to $129 from the $179 price tag that it got last July.

The player still comes with the 5 free HD DVD movie offer that it had before along with a copy of King Kong, but it we also feel it comes with the distinct stigma of a dying technology being run out by Blu-ray. We wouldn’t be surprised to see prices lower than even $129 once it hits some of the major retailers.

Microsoft made an announcement today at Comic-Con International that they will be cutting the price of not the Xbox 360 itself, but the Xbox 360 HD DVD player. Effective August 1 the HD DVD player price will drop by $20 from $199 to $179. In additional to the $20 reduction Microsoft will be extended the “Perfect Offer” from Toshiba, the maker of the HD DVD player, which gives a mail-in offer for five free HD DVD movies.

Microsoft had a couple of other related announcements regarding the launch of “300″ and “Heroes: Season 1″, both on HD DVD. “300″ will be available on-demand through the Xbox Live Marketplace on August 14th and the Heroes pilot episode along with other promotional footage will also be available for download through the marketplace.