Starting tomorrow the 9th of October, the Playstation 4 will be dropping its price to $350 in the U.S. and $429.99 CAD in Canada. This includes more than just the standard Playstation 4 as well, with many of the various bundles available dropping in price. Here's a handy image:
As you can see, there is basically a $50 price drop across the board in the U.S., with varying price drops for Canada.
This comes nearly a year after the Xbox One dropped its price to $349 dollars, just in time for last year's holiday season. Of course, this drop in price also comes after the PS4's price dropped in Japan, which came as an announcement during the Tokyo Game Show last month. Japan also saw an equivalent of a $50 price drop then, leading many, including TechRaptor, to speculate that the U.S. could see something similar.
Now it is just up to you to decide what system you're looking for and what bundle you'd like. It may not be the time yet—who knows what Cyber Monday or Black Friday deals there will be—but those that have waited to purchase something in the newest generation will see a cheaper price and at least a better game library than at launch.
This took a lot longer than I would have thought to happen, considering the Xbox One dropped in price over a year ago. However, the PS4 has still been outselling it since then, so I guess Sony didn't feel the need. However, I think this is a great move and it definitely makes me, someone who has not adopted yet, take great pause and consideration. In any case, price drops are a good thing for you all and I hope it makes it more feasible for many of you to game the way you want.