PS3 manufacturing costs down 70 percent? Strange, it doesn't feel that way

We understand that Sony has a long way to go in making up the losses it's incurred by selling the PS3 at a loss -- even if it was commanding the highest price in the industry the whole while -- but if this latest word on manufacturing costs is correct, we'd say Sony has some room to get the console under that dastardly $400 mark. During an overseas call with investors over Sony's Q1 financials, Nobuyuki Oneda, Sony's CFO and Executive VP, apparently stated that manufacturing costs for the PS3 are down 70 percent, which is right "on schedule." While there's no official cost published by Sony, those in the know estimate the console originally cost around $800 to produce, and should be down to roughly $240 at this point. Maybe a holiday price cut is in the cards? Boy, we sure hope so. Either that, or he's already spouting off the PS3 Slim's production cost, which is a win for everybody.

[Via Joystiq]