PlayStation 4 is only four years into its expected 10-year run and has already nearly caught up to the PS3's total sales of 80 million units over 10 years. Sony has so far sold around 60 million PlayStation 4 consoles, and 20 percent of those have been of the more expensive Pro model.

The system has already seen one price drop. It occurred last year with the introduction of the PS4 Slim and Pro. The Slim is the usual stripped-down model that Sony customarily offers after the console has been out for about three years. It was released last fall for $299.

Those who have been waiting for a second price drop only need to hold off for a few more days.

Andrew House, chief executive at Sony Interactive Entertainment, told USA Today that the PlayStation 4 would be selling for $249 starting on June 9. The sale will run through E3, which is June 13 - 15, and they will return to the regular price on June 18. Sony will be offering discounts on games and accessories during this time as well, so keep your eyes peeled for good deals online and in stores.

While this price drop is only temporary, another permanent price drop is predicted to occur sometime this year. Industry analyst Michael Pachter from Wedbush Securities predicted in last December that the PlayStation 4’s price would fall within 12 months.

“I think Sony is intent upon keeping Microsoft in distant second,” said Pachter. “[I] expect a price cut for standard PS4 (slim) to $199 before year-end 2017.”

If Pachter’s prediction comes true, I would expect the price reduction to occur deep into the fall in time for the holiday shopping season, perhaps in time for Black Friday, but who knows. You can wait a few days and get a guaranteed $50 discount on a PlayStation 4 Slim, or you can wait a few months and hope that Sony does indeed reduce the price by $100 with no guarantees.

PS4 Image by Engadget