Sony Weighs Playstation 3 Price Cut

Sony boss Howard Stringer has told the London Times that the company is in fact evaluating a potential price cut to its 3rd place Playstation 3 console. The reigning champions of the console wars have been in third place (except in Japan) since they launched the new console. Many attribute that to the foreboding price point.

"That (price cuts) is what we are studying at the moment. That's what we are trying to refine," Howard Stringer told the London-based Financial Times.

He admitted that Sony faced tough competition from rival Nintendo's Wii video game console, which is enjoying stronger sales than the PS3 and has a lower price.

"Nintendo Wii has been a successful enterprise, and a very good business model, compared with ours ... because it's cheaper," he said, adding there was "no question" consumers wanted a lower price.

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