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Sony CEO: Sorry, No PS3 Price Cut

Sony CEO Sir Howard Stringer reportedly "brushed off" concerns that the company's PlayStation 3 console was too expensive, which suggests the company has exactly zero plans to cut the price of the console.

Rumors of a PS3 price cut have been doing the rounds since March. Those rumors turned out to be a price cut for the PS2 and, while a $99 PS2 is nothing to turn your nose up at, a lot of folks were disappointed that there wasn't a similar price cut for the PS3.

At the beginning of June those rumors got a refresh when Agee analyst Arvind Bhatia wrote that, according to industry sources, Sony was planning a $100 price cut on the PS3 in mid-August, just prior the launch of Madden (8/18) and the start of the back to school shopping season.

Unfortunately, if Stringer's comments at the Allen & Co conference in Sun Valley, Idaho are anything to go by, there will not be a PS3 price cut in time for the Madden launch. When asked about Activision Blizzard CEO Robert Kotick's recent comments about dropping support for the console if there wasn't a price cut soon, Stringer said, "He likes to make a lot of noise. He's putting pressure on me and I'm putting pressure on him. That's the nature of business."

There you have it. PS3 price to stay as is.