Intel

As per Intel’s marketing strategy, Intel sticks the same price tag of their previous fastest CPU variant onto their new CPU variant. Not this time though.

Intel is introducing another K series chip in the market that is known as the Core i7-2700K on the current Sandy Bridge platform (LGA 1155). The new CPU is expected to launch around sometime in October with a higher premium price than the current i7-2600K.
The rumored 2700K is a quad-core clocked at 3.5 GHz with a Turbo Boost of 3.9 GHz, 2MB L2 and 8MB L3 cache rated at 95W. So in comparison, there is only a 100 MHz bump up in the existing clock speed.
Further on, VR-Zone.com says these new 2700K chips will be cherry picked out of the Sandy Bridge platform so overclockers can make the best of it. (Personally to me this sounds more of a marketing gimmick into making enthusiasts opt for this variant)
Lastly, the Core i7-2700K would not be priced at $317 (Current price of the 2600K) but instead for $331 according to Fudzilla.
This move seems more of Intel readying another arsenal in their fight for market share against AMD’s upcoming Bulldozer ahead of it’s own Ivy Bridge launch besides leaking the news of the i7-2700K surfacing itself.