Sony confirms no PS3 price cut for US

Sony has confirmed that the price cut for the 20GB version of the PlayStation 3 is region specific - there will be no reduction in price for the US.

The price of the Japanese 20GB model has been slashed before launch, from 62,790 yen (421 euro) to 49,980 yen (335 euro).

But speculation of possible price cuts outside of the region has been quashed, with Sony boss Kaz Hirai stating "There are no plans right now to adjust the pricing for the US market," in an interview with GameSpot.

The reduction in price has been seen as a token effort by one industry analyst, with UBS Securities' Mike Wallace commenting, "This price cut is only on the 20GB version of the PS3 in Japan, which in our view is not significant given that the US is the key market for the PS3."

Wallace also labelled the move "a questionable business decision and a sign of weakness."

Japanese firm Retela Crea Securities also recently branded the price cut "ridiculous".