The development packages will be sold for $10,250 in North America, 950,000 yen ($8,600) in Japan and 7,500 Euros ($11,250) in Europe. The statement from Sony hinted that more price reductions are to come, as well.

"As more and more new titles are developed for the PS3 format, SCEI will significantly reduce the price of the Reference Tool in order to contribute to the cost saving measures of the development community," the announcement read.

Although the recent price cut increased PS3 sales slightly in North America, the system was still the least-selling console in October, though sales of the new 40GB system during the holidays may give the platform a larger install base.