Those of you holding out for a price cut on the PS3, just might be in luck. Gamestop CEO Dan DeMatteo recently dished that his companies projected console unit sales, for this year, have been determined based on upcoming price cuts to the Playstation 3 and Nintendo Wii.

“That assumes that there will be price cuts on the PS3 and potentially one on the Wii,” DeMatteo said. “It’s hard to tell if we actually need a price cut on the Wii to get to our numbers. There are some price cuts built into that assumption, but not until the third quarter.”

Added DeMatteo: “The hardware price points, given this economic environment are potentially too high, and if the platform holders are going to make the numbers that they forecasted for the year, those prices would have to change."

“Also, if you think about it, these hardware prices have stayed up longer in this cycle than in any other time before, and in a very dire economic environment, those two things seem to be mutually exclusive.”

I would not expect any drastic cuts, probably in the $30-50 window for the Wii and around $50-70 for the PS3. A third quarter price cut for these two consoles could pay off big in the upcoming holiday season.