Remember that PS3 price cut announced at Gamescom? Well it looks like it has gone and hit the UK, with Sony confirming a global PlayStation price drop.

UK PS3s will now be priced in at £199 for what is presumably the 160GB model. has the 320GB offering up on sale for £215.20, with a bundled game thrown in for good measure.

The rest of the world can enjoy picking up a PlayStation 3 on the cheap, with it hitting either $249, €249 or 24,980 Yen in the respective countries. 

The end of generation pricing wars have begun then. Next up, likely the Wii, which is set to make a new even slimmer appearance anytime soon

Update: Game has started posting PS3 pricing and has gone bundle crazy. A 320GB console will set you back £249.99 with three games thrown in for good measure (Ferrari Challenge, FIFA 11 + either Infamous 2, Killzone 3 or Motorstorm). The 160GB option is priced in at £179.99 when purchased with any new or preowned game.