Great news!Sony CEO and executive VP, Nobuyuki Oneda hasboasted to the worldthat PS3 production costs are now down by 70%. This is great news for … well … just Sony, really. Good news for Sony, and nobody else.

“The cost reduction since we introduced the PS3 is very substantial and this is on schedule,” proclaims Oneda. He wouldn’t go into specifics, as Sony has never been forthcoming about production costs, but did confirm a reduction of 70%, possibly because Sony is making the things out of cardboard. It’s not yet been revealedwhatthe PS3 cost to make in 2006, but it was believed to be setting Sony back by about $800/£430 per console.

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So, we now know that PS3s are cheaper than ever to make. Will that long-awaited, almostlegendaryprice cut be coming soon?

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