They've said it once, they've said it a thousand times: no price cuts for the PlayStation 3 in time for Christmas.

Commenting on the price cut (or lack of it), Sony Computer Entertainment's Managing Director Ray Maguire commented that:

There's always pressure on price, but you know we have a business to run, and we have to make sure we're doing the right thing for the shareholders as well.

At the moment there's a marketplace for PS3 and I think for this particular Christmas, with the kind of quality of games we're seeing coming out this Christmas, I don't think the price of the console is going to be an issue at all.

[...] Now the price point we're at, with the features we've got, that we obviously have to charge for, it's absolutely on target.

Considering the financial state Sony is in right now, I'd say they're doing the right thing. It was a dramatic moment last week when Sony cut its earnings forecast this year by 57%. That's not going to go well with stockholders. Cutting the PS3's price tag any further probably won't ease their minds either.

Hopefully Christmas will prove that Sony made the right decision.

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