When the PS3 Slim comes out with its price reduction, I think it will overtake 360 in sales. Think about it - the PS3 is only 8 million units behind 360, which had a full year head-start. The PS3 is about double the price of the 360, so if it can make so many sales at double, it must make more at a lower price. Not to mention PS3's awesome lineup of games, and with it's obvious E3 win, more 360 owners will turn to PS3 when they realise their 360s aren't as good as the PS3. This is my opinion, and 360 fanboys will probably resort to childish insults in this forum, but you all know it.
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