Sony playstation 3 pricing rip off

Can anyone tell me why Europeans keep on getting screwed on the price of technology? Sony just announced the pricing for the new Playstation 3, due out in November. The model with the 20Gb hard drive will be 499 US dollars in North America and 499 Euros in Europe. According to Google, at the current exchange rate 499 dollars is 392 Euros. So in Europe we’re paying a premium of 107 Euros, or 136 dollars. Is this one of those weird tax things, where it’s more costly for Sony to do business in Europe? Is it the cost of localizing all the content for multiple European languages? Or is it just a blatant rip off which they know Europeans can only grumble about?