Sony is considering pricing the PS4 at £300 in the UK, according to a report at The Times.

“Industry sources and leaked internal documents suggest that Sony is considering pricing the new device at about £300, more than £100 cheaper than the starting cost of its predecessor, the PlayStation 3,” said the report.

When the PS3 launched in the UK in 2006, it was priced at £425.

According to Murad Ahmed, a tech reported at the Times, £300 is not a conversion from a yen price but is the actual “local UK pricing.”

Earlier this month, a report by Japanese website Ashai Shimbun claimed that Sony was aiming for ¥40,000 which equates to about  £270 for the PS4.

Sony’s next-gen console is due to be announced this Wednesday, February 20th.  However, the price may not be revealed on the same day.