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Sony Says PS3 Price Cut Not Forthcoming

| 11 Jul 2008 19:42
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With an Xbox 360 price cut now all but certain, Sony explicitly denied that it was planning a price cut for the PlayStation 3.

"Our strategy is not to sell more quantity for PS3 but to concentrate on profitability," Sony CFO Nobuyuki Oneda told investors at the Nomura Asia Equity forum in Singapore. "Our plan is not to reduce the price," he said plainly.

Analysts who have predicted a 360 price cut have also said that Sony is focused on profitability. The PS3 has seen momentum against the Xbox 360 with new videogame titles, the success of the Blu-Ray format, an online interface overhaul, and strong European sales.

At the same time, few companies willingly admit to impending price cuts, as such an admission would torpedo current sales. The Xbox 360's new pricepoint will place it as a significant $100 cheaper than the PS3.

Source: Ars Technica

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