Sony Computer Entertainment America boss Jack Tretton has admitted that the PS3's high price poses "a challenge" - but observed that the content available for the console will help to justify the cost.
As reported by Reuters, Tretton said triple-A software releases are set to boost sales of PlayStation 3 over the coming months, stating, "The content message will be addressed very nicely this year."
The 60GB PlayStation 3 retails in the US for USD 599, while the Xbox 360 Premium system costs USD 400 and the Nintendo Wii retails for USD 250.
According to Reuters, Tretton conceded that the PS3's higher cost has been an obstacle, observing, "There's no question that that's a challenge."
However, Tretton continued, "Hopefully content helps to deliver the proof points and the justification behind the cost of the machine."
The SCEA president's comments come in the wake of Sony's latest financial report, which revealed a 68 per cent drop in operating profits. The company said it expects a reduction in operating losses in future as the cost of hardware manufacture comes down and an improved software catalogue boosts PS3 sales.