Sony must cut PS3 price, says Ubisoft boss

Ubisoft CEO Yves Guillemot has called on Sony to reduce the price of PlayStation 3, warning that the company's market share will be reduced in this console cycle.

Speaking at the Reuters Global Technology, Media and Telecoms Summit, Guillemot said, "For sure Sony will have a different market share ... lower than before."

He added, "They have to decrease the price quite significantly," but did not offer any suggestions as to how much the cost of PS3 needs to come down.

Guillemot also said that Ubisoft is developing a game which will be published exclusively on PlayStation 3 in Europe. No further details were given, but it could be that the publisher is planning to unveil the title at the 'Ubidays' press event being held in Paris next week.