Sony has just announced that this coming Friday, the Playstation 2 will receive a price cut in Europe. In Japan, the console received a price drop last June. With both Microsoft and Nintendo releasing competing video game systems this November, one would think Sony would be planning a price drop for the North American market too.

It isn’t. In fact, Sony has announced that there will be no price drop for PS2 in North America this year.

David Becker, one of Stephen Kent’s MSNBC colleagues has a great article on what’s going on. Along with getting the official word from a Sony spokesperson, analysts are consulted.

“If the GameCube and Xbox sell out immediately and people still want to buy a console, they’re going to grab a PS2,” IDC analyst Schelley Olhava said.

“Dreamcast got quite a kick (from) the PS2 launch, and history could well repeat itself,” said Richard Doherty, president of research company The Envisioneering Group. “We don’t think there’ll be enough GameCubes for consumers this holiday season. And historically, when that happens, a number of consumers go out and buy another system.”

PGC had actually heard from a Sony Rep some time prior to the X-Box delay that there would not be a price drop for PS2. The reason? Exactly what the analysts say it is: Sony is counting on X-Box and GameCube to be in short supply during the holidays and disappointed consumers “settling” for a PS2 instead.

With the delay and alleged reduced shipment of X-Box systems, Sony has even more reason not to drop the price of PS2. On the other hand, this development puts Nintendo’s new system much more affordable than either the PS2 or X-Box. Combined with a great launch line-up, it’s probably wise to expect the GameCube to sell out