According to MCV, the UK games industry is expecting Sony to announce a pricecut for PS3 at this year's Gamescom.
Trade insiders are said to be hoping for a recommended retail price of £199.99, allowing stores to sell it at £179.99.
Codemasters boss Rod Cousens said, "I would anticipate a further price cut on existing consoles prior to Christmas.
"It'll probably happen around September and Gamescom may be interesting. But there's also time for a further cut next year, before Wii U is out."
Sony has said that it doesn't comment on rumour or speculation.
Gamescom runs from 17-21 August, and IGN will be there keeping you in the loop.