A lot of us can agree that the PlayStation 3 really needs a price cut. Just how badly does it need one? Well, the Xbox 360 now leads by over 8 million units worldwide. It's gotten so that even Microsoft's openly expecting them to have a price cut soon.

Ohh I haven't written a mud-slinging article in weeks. In an interview, SCEE prez David Reeves said "you don't grow the market by putting out shoddy machines." Taking potshots while Microsoft's down, Sony?

Pacific Crest Securities analyst Evan Wilson predicted that 2010 will spell the end of the life cycle for both Nintendo's and Microsoft's respective next-gen consoles. He mentions since that time will be the peak for the video game industry, the need for new hardware will become prominent by then. You can read more about what Wilson had to say in the full article.

Sony Computer Entertainment Europe president and CEO David Reeves said that this summer,  they are expecting the PlayStation 3 to have a bigger user base than the Xbox 360 in every PAL territories.

Before you doubt Reeves' claims, he justified his statements with some pretty interesting data. Head on over to the full article for more information.