Sony rejects claims of PS3 price cut

Sony has no plans to slash the PlayStation 3's price in the near future, company CFO Nobuyuki Oneda said on Friday. The Japanese executive insists that Sony's goal remains to make the Blu-ray game system profitable by reducing the price of its individual parts. Selling extra games should also help the PS3's bottom line, Oneda says. He declines to estimate when a price cut could take place.

The official's remarks cast doubts on Sony matching at least temporary price cuts to the Microsoft Xbox 360 but come with a history of Sony denials of rumors that quickly prove accurate, including the discontinuation of the 60GB PS3. An alleged Wal-Mart leak also points to a replacement for the 40GB PS3 in early August.

Oneda