Gamertell

With the rumors and finally confirmation that Microsoft is cutting $50 from the Xbox 360 Premium console, Sony was asked whether it would consider a similar price cut for one of the two remaining PlayStation 3 models.

According to the New York Times, Sony’s CEO Howard Stringer said at the Allen & Company conference that Microsoft was reducing the price of the Xbox 360 because it realizes sales of the console are getting lower. His statement was confirmed by NPD numbers that state sales of the Xbox 360 console had been falling behind both the PS3 and Nintendo Wii for the first five months of 2008. Stringer feels there is no need for Sony to implement a price drop for the PS3 at this time.

According to Gamespot, Sony’s chief financial officer Nobuyuki Oneda last week said, “Our plan is not to reduce the price. Our strategy is not to sell more quantity for PS3 but to concentrate on profitability.”

Turning a profit is crucial to Sony at this point because the PS3 has caused the company to lose more than $3 billion dollars since the console’s launch in 2006. Sony prices the PS3 below what it actually costs to produce the system. Sony must now configure a strategy to dramatically increase the PS3 user base. Considering the decent number of triple-A titles that are due out by the end of the year, Sony may begin to see a glimmer of profit in the future.

Read [New York Times] Also Read[Gamespot] Also Read [Game Grep]