Sony is likely to announce a PS3 price cut this week, according to industry analyst Michael Pachter.
Pachter also forecast that Microsoft will follow suit and match the $199 price point with Xbox 360 by this year's E3 event in June.
The site points out that Sony briefly sold PS3 bundles for $199 during last year's Black Friday period, but that most bundles now retail for $299. Upcoming PS3 bundles include next month's God of War: Ascension offering.
Worldwide PS3 shipments reportedly hit 77 million in December 2012, surpassing those of Xbox 360.
Earlier today Sony announced a PS Vita price cut for Japan.