Monday, 30 July 2007

Sony Says No To Price Cut On PlayStation Outside US

Japanese consumer electronics giant Sony Corp. has ruled out slashing the prices of its gaming console PlayStation outside the US, president Ryoji Chubachi said...

Japanese consumer electronics giant Sony Corp. has ruled out slashing the prices of its gaming console PlayStation outside the US, president Ryoji Chubachi said.

He said the company wasn’t keen on cutting the prices in either Asia or Europe.

Sony has been battling Microsoft and smaller rival Nintendo for a share in the highly competitive US gaming market. While Microsoft and Nintendo have had poor sales, Nintendo has been making rapid strides due to its price that is way less than the two other competing consoles. Nintendo Co., last week raised its forecasts for profit and shipments. Earlier this month, Sony cut prices of its new consoles by USD 100 to compete with Nintendo and Microsoft that makes Xbox 360 game machines.

A PlayStation with a 60-gigabyte hard drive now sells for USD 499, while an 80-gigabyte model goes on sale next month will cost USD 599. Microsoft's Xbox 360 Elite model sells for USD 479, while Nintendo's Wii, the top-selling console, costs USD 249.