Sony announced plans to slash the prices of both Vita models in Japan on Feb. 28th, 2013. Can n North American price cut be far behind?

Late Sunday night, Sony hosted a video conference where it discussed plans for the Vita in Japan. Some games were shown off, but the big to-do was the reveal of the Vita's new lower price. Both the WiFi only and 3G/WiFi models will see their prices reduced to ¥19,980 (US$215) at the end of February.

Currently, the WiFi model retails for ¥24,980 (US$270) and the 3G/WiFi model fetches ¥29,980 (US$323). In addition to the new lower price, Sony will be giving away a one week subscription to PlayStation Plus to anyone who purchases a Vita between Feb. 28th and March 18th. There will also be a new Ice Silver Vita debuting on Feb. 28th, which will come bundled with Phantasy Star Online 2.

Sony hasn't even hinted at a possible price drop for Western markets, but perhaps this Wednesday, the company will discuss its plans for a cheaper Vita during the mysterious press conference scheduled. While it's unlikely the whole event will be tailored around the Vita (it's expected the PlayStation 4 will debut), it wouldn't be out of the question to spend a few minutes on existing hardware.

What do you think of a potential price cut for the Vita? If you haven't already purchased one, what do you hope to see the price drop to?