The Financial Times is reporting statements made by Sony C.E.O., Howard Stringer, that indicate a price cut for the PlayStation 3 could be imminent.
TOKYO (XFN-ASIA) - Sony Corp chief executive Howard Stringer says his company is trying to decide by how much it will cut the price of its PlayStation 3 (PS3) video game console, which consumers want reduced, the Financial Times reported.
The FT quotes Stringer as saying, "That is what we are studying at the moment. That's what we are trying to refine."
Stringer also owned up to the fact that the Wii offers substantial competition at its lower price point, "Nintendo Wii has been a successful enterprise, and a very good business model, compared with ours ... because it's cheaper... there is no question consumers want a lower price."