Ever since the PlayStation 3 was unveiled at E3, speculation has been rampant as to what the powerful system would cost. The general consensus is that it will be higher than the $299 that we are generally accustomed to, but an article at GamesIndustry.biz suggests otherwise.
They cite a Japanese website, Impress PC Watch which states the SCE has told it's business partners that the price point will be at or below 40,000 yen, which is where the PS2 launched in Japan.
Of course, all of this is largely dependent on how much the Xbox 360 will cost, but no announcement has been made yet. Most people expect Microsoft to announce a price point for the system no later than August.