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Sony Won’t Cut PlayStation 3 Price Before Christmas, FT Reports

Written by Writer on Monday, October 13th, 2008

Sony Won’t Cut PlayStation 3 Price Before Christmas, FT Reports

By Naoko Fujimura (Bloomberg) — Sony Corp. doesn’t plan to cut the price of its PlayStation 3 console before the Christmas season, the Financial Times said, citing the head of the Japanese manufacturer’s game unit.

Sony will maintain current pricing because the PS3 offers better value than rival machines that sell for less, the FT cited Kazuo Hirai, president of Tokyo-based Sony Computer Entertainment Inc., as saying.

Sales of an upgraded version of the console began in September in the U.S., offering double the storage capacity while maintaining a price of $399. That contrasts with Microsoft Corp.’s decision to cut the price of its Xbox 360 Arcade machine to $199 from $279.99.

To contact the reporter on this story: Naoko Fujimura in Tokyo at nfujimura@bloomberg.net

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News Topics : Arcade Machine, Christmas Season, Contrasts, Financial Times, Fujimura, Game Unit, Japanese Manufacturer, Kazuo Hirai, Microsoft Corp, Playstation, Playstation 3, Playstation Console, Ps3, Sony Computer Entertainment, Sony Computer Entertainment Inc, Sony Corp, Sony Entertainment, Sony Playstation, Storage Capacity, Tokyo, Xbox, Xbox 360