Internal leaked documents from Sony suggests that the PS4 is due for a $50 price cut some time this year.
A copy of a document that originally appeared on Sony's official retail loyalty site was obtained by WholesomeGamer, and it suggests a new "average retail value" (ARV) for the PS4 that is $50 cheaper than the current price.
The document is part of the rules of a competition that Sony runs for its retail employees, with PlayStation prizes on offer to lucky winners. The rules for the competition must list out the value of the prizes, and it is here that Sony appears to have set a new ARV for the PS4, from the usual $399 to $349. The new ARV would see the PS4's price exactly match that of the rival Xbox One console.
The Xbox One received a temporary $50 price cut during the holiday sales, which then became a permanent one in the following months. The price cut helped the Xbox One beat the PS4 during the holiday sales period in the US and UK, and the Xbox One also managed to outsell the PS4 during this past April, the first time the console has managed to do this outside of the holiday sales period.
In this context, a PS4 price cut of $50 has been expected by most analysts, and the leaked documents appear to confirm this move, which may happen later this year.