Analyst: Sony Won't Cut PS3 Price...Just Yet

by M. Renton

The $50 Xbox 360 price cut is pretty much guaranteed to happen -- retailers such as K-Mart, Best Buy, and Target all advertising the new $299 model in this Sunday's circulars.

Will Sony retaliate with a slash of their own? Don't hold your breath for a cheaper PS3, says Signal Hill analyst Todd Greenwald. It still may be a while.

"We do not expect a price cut on the PS3 just yet," he's quoted by Game Daily as saying.

"Sony appears to be focused on profitability right now, and actually has some momentum behind it now with the Blu-Ray win, and its strongest lineup of exclusive titles since the console's launch (Metal Gear Solid 4, Gran Turismo 5, LittleBigPlanet, Killzone 2, Resistance 2, Motorstorm 2, etc)."

If Sony is to make any sort of announcement, expect it to take place at E3, which will take place July 15-17 in Los Angeles.