99 / 249.99 / ¥24,980. The price-drop is effective immediately. As in right now.
Sony last cut the price of the PlayStation 3 at GamesCom in 2009, dropping the price of the then $399.99 system to $299.99. The platform holder will hope that this latest cut subtley reignites PlayStation 3 sales going into the Fall.
Update @ 20:03PM BST: SCEA president Jack Tretton's also taken to the PlayStation Blog to announce that the 320GB PlayStation 3 has been reduced to $299.99. You'll be able to buy it this Fall with a free copy of inFamous 2 and 30-days complimentary access to PlayStation Plus.