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Sony: No plans for PS3 price drop

Sony Computer Entertainment Japan has said that there are no plans to drop the current price of the PlayStation 3.

Speaking to investors, chief financial officer Nobuyuki Oneda said the company remains focused on profitability for its games division.

"Our strategy is not to sell more quantity for PS3 but to concentrate on profitability," said Oneda, reports smartmoney.com

"Our plan is to not reduce the price."

The comments come ahead of an expected announcement by rival console manufacturer Microsoft that it will cut the price of its Xbox 360 Premium SKU by USD 50, to USD 299 this weekend.

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