The PS3 price drop in the U.S. and Canada has caused an explosion of newfound interest in Sony's next-gen machine. But what about Europe, where the console remains very pricey? Well, in a late breaking news story, it appears that SmartHouse News has confirmed the PAL markets – including Australia and the UK – will receive a PS3 price cut this Thursday, July 12.

According to the source, Michael Ephraim, Managing Director of Sony Computer Entertainment in Australia, made the confirmation. No further details are available at this time, but the move was anticipated by analysts and does make plenty of sense. However, no word on whether or not the PAL regions will see the 80GB Motorstorm bundle, so we'll keep an eye on that.

After this week, most of the world will have much more incentive to pick up the PS3!

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