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When asked about the rumors that the console would cost around 500 dollars, Fornay stated, "Well, listen, if we take into account Blu-ray, HD, we see Blu-ray players at 1000 euros or more, [PS3] will be extremely cheap when compared to that. When we look at the gaming aspect, it is true that today consoles were generally well below 500 euros (roughly $614 U.S.), and I would say that we will be in this price range. It will be costly for a game console and extremely cheap when we look at the technologies it will integrate."
UPDATE!: Not to long after this news hit the web, SCEE representatives released a statement mentioning that Fornay was not announcing a price point or a date. It also stated that Fornay was making a personal observation, saying that the PS3 might be expensive for a videogame system, but relatively cheap compared to the total number of technological features (i.e. Blu-ray and HD playback) included.
Originally posted by truttseeker
and now to avoid getting a your post is too short or meaningless message...thank you