By Susie Vee

Sony and Microsoft, come on down! Heading for their own Showcase Showdown are two of the big three console makers.

This week, Sony and Microsoft both decided to cut the US prices of their consoles by a third. Both companies were rumored to be considering the move for an E3 unveiling, but the PS2 and Xbox price cuts were announced less than 24 hours apart. This leaves all three next-gen consoles on a level playing field, with a retail price of $199.

Sony referred to the move as, "Pursuing its long-term vision of making computer entertainment accessible to mass-market audiences." Additionally, the price of the PS one console has been cut from $99 to $49.

The PS2 price cut has been speculated about almost since the console launched in 2000.

The Xbox price cut has also been a rumor since the console's earliest days. With Sony, Microsoft and Nintendo fighting for all-important market share, nobody wants to be the most expensive console.

Microsoft called its price cut, "a carefully planned effort," and "part of our long-term strategy to broaden the reach of Xbox and make it accessible to more consumers."

The real winner, of course, is gamers across the US, many of whom will now undoubtedly use these price cuts to add to their existing console collection.