If you would recall, Sony officially launched the PS2 in Brazil just last November and retailed for US$ 465. Nine months later, it's the PS3's turn to invade the largest country in South America. If you thought they had it rough with the PS2 price, get a load of the PS3's. How much? It's only over a thousand US dollars.
The PS3 will retail in Brazil at R$ 1,999, which would be about US$ 1,130. Believe it or not, it could've been worse. Sony originally intended to price the system at R$ 2,499, or about US$1,408. But to stay competitive with the Xbox 360, which checks in between US$ 999-1599 over there, they went for the smaller price range.
Why the insane pricing? Brazil happens to have import taxes that the ol' Sheriff of Nottingham would wet his pants for.