Sony has just announced in its Gamescom 2011 keynote that it will be giving its PS3 a price cut. The base PlayStation 3 models will run you just $250 in the US, €250 in Europe, and ¥24,980 in Japan.

Announced at the same show two years ago with a $300 price tag, the base PS3 Slim model includes a 160GB hard drive. A lower price will provide a nice cushion for that $299 Call of Duty: Black Ops bundle, which just hit stores earlier this summer.

Meanwhile, the 320GB model will see a $50 drop as well, with new pricing for both models kicking in immediately in the US and Europe, and August 18th in Japan.

SOURCE via Joystiq