http://economictimes.indiatimes.com/Sony_not_to_cut_PS3_price_further/articleshow/2237805.cms

Sony not to cut PS3 price further
27 Jul, 2007, 0750 hrs IST, REUTERS

OYAMA, JAPAN: Sony Corp currently has no plans for a further price cut for its PlayStation 3 (PS3) game console following a $100 cut in the US, the electronics conglomerate's president said on Friday.

"We've announced the price cut in the US and have no additional plans beyond that at this time," Ryoji Chubachi told Reuters on the sidelines of a gathering of business executives in Shizuoka Prefecture, central Japan.

Sony's PlayStation 3 has been far outsold by rival Nintendo Co Ltd's Wii console in large part because of its lofty price. Even after the $100 cut, the PS3 is twice as expensive as the Wii.

Sony announced on Thursday that it sold 710,000 units of the PS3 in the April-June quarter, less than a fourth of 3.43 million Wii consoles sold in the same period.

Some analysts have said the $100 cut would not be enough to counter the momentum of the Wii and predicted that Sony would have to lower the price again in the near future.

Some analyst or all the analyst?$100 dollar drop on the ps3 increased sales but the wii will sell better simply becuase of the price and inovations it has, if ps3 were to be priced at $399.99 I would think it would be selling almost as good as the wii.

Chubachi is the COO, the third highest officer in Sony.

I will call him Chewbacca it sounds better, but considering that it comes from the same company that denied a price cut and then announced one later I think there is still plenty of room for speculation around a new price cut.

Actually, after the price cut, the PS3 is MORE than twice as expensive as the Wii... Twice as expensive would be 249.99 x 2 (499.98) and the PS3 is obviously one cent higher than that.

^Not at Wal-Mart.

Why even post the "some guy says no to price cut" its not like they can or will ever say different unless its the actual announcement of the damn price cut.

Oops, I was wrong about him being the COO. Chubachi is actually the President and Electronics CEO of Sony. So that would make him the second most powerful man in Sony I believe.

Oh boy...

Sony's in a rough spot. If they keep the cost the same, they lose sales (and ultimately, what little money they can pull out of it right now). If they drop the price, they basically shave off 20% of what they could be pulling in. It's sort of a lose-lose right now. Not good.

Doesn't mean anything. Sony won't come out and say they will drop the price again.

Once the 60Gig model sells out, they obviously need to do something. The backlash of having the (effectively) price go up $100 - will be too horrible to contemplate.