As Sony cuts the price of the PlayStation 3 for the first time in two years, Gamasutra editor-at-large Chris Morris looks at the ramifications the move might have on Xbox 360 and Wii.

So the PlayStation 3 price cut we all suspected was coming at some point this year has finally been announced, and immediately implemented to boot. Now things are going to get interesting.

Sony’s $50 reduction, positioned as the exclamation point to their Gamescom press conference, will have reverberations throughout the industry over the next couple of months. Let’s take a look at some of the ripple effects.

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