SCEA product manager John Koller has confirmed that the company has no plans to cut the price of the PSP this year.
Speaking to Reuters, Koller said, "We don't neccessarily see the need to cut the price."
However, he conceded, "We need to offer broader value and introduce new consumers to what the PSP can do."
This is not the first time Sony has dismissed rumours of a price cut in recent months. Back in August, an SCE UK spokesperson toldGI.biz that there were "no plans" to slash the price after P.J. McNealy predicted a drop in the second half of the year
According to Koller, around 110 new software titles will be released for the PSP by the end of 2006 - bringing the total number of games available to 230. He also said that Sony will shortly reveal details of how the handheld will connect and interact with the PlayStation 3.
UPDATE: speaking to our sister site, Eurogamer, a Sony UK spokesperson has reaffirmed that there are "no plans to cut the price of PSP at this moment in time".
Pointing to the combination of movie, music, photo, Internet and games support now offered by the latest updates to PSP system software, the spokesperson said the handheld "still represents great value for money".