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Playstation 3 will be €500-600

Playstation 3 will be €500-600

The Playstation 3 could cost as much as 600 Euros. That's a lot of cash.

Vice President of Sony's Playstation division in Europe, George Fornay, has revealed that the Playstation 3 will cost between 500 and 600 Euros when it launches at the end of this year.

The price is a high one, and fits in with what we've thought about the PS3's cost of manufacture. Fornay said that the price might seem high, but that it was reasonable considering buyers were getting a Blu-Ray movie player into the bargain.

A literal translation of the price would put the US price at above $600, but business practices suggest a 1:1 Euro:Dollar conversion, regardless of the exchange rate. This puts the PS3 in at $499 in the US and probably £399 in the UK, if we go with conventional price exchange structures over here.

This will make the console £100/$100 more expensive than the Xbox 360, assuming that there is no price cut in the 360 before PS3's launch. A price cut to £249 for the Premium pack, which is entirely feasible, could see a clear £150 between the two consoles, meaning that you'd have to really want the PS3 to justify it.

The Nintendo Revolution will come in under $300, according to Nintendo officials, and Nintendo has also pledged that games will also be cheaper on their new console.

Can you justify £400 for a PS3? Could you ever justifying both a PS3 and 360? Will the Blu-Ray functionality mean much for you? Let us know what you think over in the forums.