While Sony will be cutting the price of PlayStation3 in the US, the company has announced it will not be offering a similar discount in Europe.

PlayStation3 machines already cost more in Europe than anywhere elseInstead, European customers will be offered £115 worth of free games and accessories when they buy the 60GB PlayStation3 for £425, £125 more than the same machine costs in the US.
Speaking from the E3 games conference in Santa Monica, California, Sony said it would drop the US price of the 60GB machine by $100 (£50) and introduced a new 80GB version for $599 (£300), the original price of the 60GB PS3.
The firm did not mention plans to introduce the new version in Europe.