Playstation 3 Price Cut A Possibility

With the affordable Nintendo Wii flying off store shelves, Sony is reevaluating its premium price point.

Sony may have finally decided that $600 is a bit much for a console. After the Playstation 3 debuted at $600 and dramatically undersold to the cheaper Nintendo Wii, many predicted doom for the console, but word has come down the pipe that Sony may be reevaluating its pricing soon in order to compete.

In a video interview with the Financial Times, Sony CEO Howard Stringer hinted that changes were in the cards. "[PS3 pricing] is what we’re studying at the moment. That’s what we’re trying to refine," he said.

Stringer wasn’t shy about praising Nintendo, although he was quick to chalk the stronger sales up to price. "I think I would be the first to say to you that Nintendo Wii has been a successful enterprise and a very good business model compared to ours, because it’s cheaper.”

The price cut is still far from a certainty. Stringer didn’t give a timeline or hard numbers for a proposed cut, but he did mention that he expected strong PS3 sales by Christmas.