The source of the speculation comes from a report on Japanese website Impress PC Watch, which claims Sony have discussed the 40,000 Yen price point in conversations with its business partners. It contradicts reports from last week in the Japanese newspaper Mainichi Daily News, which had suggested 50,000 Yen ($609AU / £254 / €370) would be the starting price for a PS3 when it launches in Spring 2006.
Obviously, this is all highly speculative and Sony's thinking will naturally be influenced by the pricing strategies of its main rivals, Nintendo and Microsoft. It's also a near certainty that the price will raise slightly when the console finally does reach European and Australian shores, but for now it's encouraging to know that Sony are considering an aggressive price point.

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