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Sony Not Likely To Cut Ps3 Price

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Oct 29 2008 11:16am EDT

Sony Not Likely to Cut PS3 Price

"The pressure [to cut the PS3's price] comes from the consumers obviously, and so therefore there's always pressure on price," said Sony Computer Entertainment Europe managing director Ray Maguire. "But you know we have a business to run, and we have to make sure we're doing the right thing for the shareholders as well."

Maguire also believes that the relatively high-priced console would still be successful this holiday season, despite widespread fiscal instability.

"It's obviously selling extremely well in the UK and it's the third largest single territory in the world. Now the price point we're at, with the features we've got, that we obviously have to charge for, it's absolutely on target," he said.

By Earnest Cavalli for Wired.com

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