Sony has rejected calls for a PS3 price cut in time for Christmas, claiming the perceived high price of the console won't be an issue during the crucial holiday season.

Speaking to VideoGamer.com at the Gamer 3.0 conference in London yesterday, Sony Computer Entertainment managing director Ray Maguire said that while there will always be pressure on price from consumers, Sony "has a business to run" and has to "do the right thing" for its shareholders.

Microsoft has enjoyed a 360 sales surge in the UK following the price cut in September, which saw the Arcade cut to £129.99, the 60GB cut to £169.99 and the Elite down to £229.99.

When asked if Sony was feeling any pressure to cut the price of the PS3 in time for Christmas, Maguire replied: "Well the pressure comes from the consumers obviously and so therefore there's always pressure on price, 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.

"At the moment there's a marketplace for PS3 and I think for this particular Christmas, with the kind of quality of games we're seeing coming out this Christmas, I don't think the price of the console is going to be an issue at all."

Maguire said that sales of the PS3 in the UK were "absolutely on target", adding: "It's obviously selling extremely well in the UK and it's the third largest single territory in the world. In the UK it's absolutely on line. Obviously actual sell through is always relevant to price point. 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."

Be sure to check the site later this week for the full interview with Sony Computer Entertainment managing director Ray Maguire.

No price cut for Xmas then.

Link here.

http://www.videogamer.com/news/28-10-2008-9778.html

@ kowenicki: ....

It's just "not now, not saying so at least, we wants profit"-talk. Not "ha, suckers, we're going to bleed you dry" :-/

And, this my friends, is why capitalism doesn't work... "we have to think of our shareholders aswell". That one line has caused so much bad in this world.

Of course, this isn't anything to do with the thread.

Erm... yeah... suxx0rz for teh fans.

People buy what they want when they can afford it. Wii is king in UK now, not PS3 and or 360. And M$ surge is sales have been rubbish still in comparison to the Wii's weekly sales. We could have all guessed there would be not price cut, it would have happened this month otherwise.

I think they are under real pressure with the ps3.

They would probably love to cut price but with BR costing so much they can.t imo.

well duh.

in europe its no problem. america is different.

Of course this will be an issue, this is the issue from the launch of the PS3, or maybe they are happy stuck in 3rd place and loosing money.

Thanks  Koweniciki I phrased it badly but meant what you said.

Sorry folks for the misundersanding.

This isn't a surprise, we will see a price cut most likely March or April 09.