PAL markets to see PS3 price drop on July 12th?

It's practically a foregone conclusion that the price drops we North Americans saw on Sony's PlayStation 3 would hit other markets eventually, but the managing director of Sony Computer Entertainment in Australia may have revealed exactly when that drop is coming. According to a blurb at SmartHouse News, Michael Ephraim has apparently stated that a "PAL market announcement will be made on July 12th regarding price cuts to the PAL market PS3."

More specifically, consoles sold in Australia "could be cut by as much as 17-percent," which would purportedly lower that model to AUD$829, and gamers in the UK could see the PS3 lowered to a much more respectable £350 if the percentage discount carries over. Only time will tell, eh?

[Via PS3Fanboy]