The price drop as advertised on Target's website.

Sony's PlayStation 4 may well be heading for a price drop, with US retailer Target indicating that $50 will be knocked off the price of the console – at least in the US. This comes after Sony announced a substantial Japanese price cut during their press conference at the Tokyo Game Show.

A listing on the Target website (since removed) said the PS4 is "now" $349.99, rather than the retail standard $399.99, which has been in place since the console launched in November 2013 (via Destructoid). The 500GB console bundled with Uncharted: The Nathan Drake Collection is the model being advertised at the price. That bundle is set to go on sale on 9 October in the US (7 October in Europe).

Target specifically use the phrase "price drop" but the move could possibly be a retailer-specific deal ahead of the busy Christmas months. It seems unlikely however with the widespread belief that a price drop in Europe and North America is imminent. Even Xbox boss Phil Spencer has publicly stated that he believes a price drop is coming.

"I fully expect they will drop price. When I think about the playbook they've used in the past... we feel good about the plans we have in place going forward in the holiday. If history tells, then we'll see a price drop from them coming," he said.

If Sony are set to drop the price of the PS4, then they are most likely to announce it during their press conference at Paris Games Week on Tuesday 27 October. However, if Target is selling a bundle at the new price which is set for release this week, it may be announced sooner.

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