With just about everyone expecting February 20th to be dominated by Sony's announcement of the PlayStation 4, there's also growing speculation that the PS3 could be on the receiving end of a massive discount with the announcement of its successor imminent. According to previous market trends, it's not a far fetched rumor.

DealNews is reporting that the history of discounts has always favored the old and aging. In this case, they point to the announcement of the PlayStation 3 in May, 2005 that saw a huge drop-off in retail pricing of the PlayStation 2, with a 56% cut in its price. When the PS3 launched in November, 2006 the PS2 took another price cut, down 61% off its original retail price.

They also point to the Wii U's debut last November, where subsequently the Wii's price took a hit and dropped 89% off its original retail price down to $89.99.

According to the recent trend of an announcement of new hardware and a discount on old hardware, DealNews believes that February 20th could be a twofold win-win situation for core Sony fans and the SDF as not only will a new console be unveiled but there will be a huge discount on the PlayStation 3's 160GB model.

DealNews estimates that the PlayStation 3 could drop as low as $144.99 just on or after the February 20th Sony event. If this is true then this is great news for those of you who haven't taken the plunge yet and picked up a PS3.

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