Many analysts have predicted that in response to low sales, Sony would soon slash prices on their Playstation 3. This is not the case, according to statement released by Sony and printed originally over at Next Gen.

A report in the Financial Times has suggested that the company is rethinking its pricing strategy. PS3 is the most expensive machine on the market, offering a Blu-ray disk drive.

However, the company has released a statement refuting this notion. "PS3 prices and shipment plans for the future should be determined by market trends and competition. Sony currently doesn't have any specific plan to cut the PlayStation 3's price."

Read their article here.