If you count yourself among the many folks who opted for a Wii console over the competition – due mostly to the rather large gap in prices – you may be delighted to learn the PS3 is now poised for yet another price drop later this year.

Pamela Tufegdzic, an analyst for electronic research firm iSuppli, recently told Reuters, "We anticipate Sony will have another price slash on the PS3 this year, and come Christmas, consumers who originally bought the Wii will likely purchase the PS3."

With the recent victory of the Blu-ray format over HD-DVD, along with exclusive AAA games scheduled this year for the PS3, a price cut for the system could certainly help the PlayStation return to its position as the One Console To Rule Them All.

Sony Computer Entertainment of America's product marketing vice president Scott Steinberg told Reuters, "The year of the PlayStation 3 started in fall 2007, I think it will be an extended year, we are feeling positive momentum."

Sony has yet to say anything official about any possible drop in price for the PS3.