Microsoft has ruled out the possibility of lowering the price of its Xbox 360 console, despite Sony’s recent PS3 price cut.

Speaking in a recent interview with VG247, Microsoft's vice president of interactive entertainment, Chris Lewis, offered a definitive "no" when asked if the company is now feeling pressure to move down to price of its console to counter Sony's move.

"As you can imagine, we plan for these scenarios all the time," Lewis said. "For me to sit here and say that was a big surprise would be a lie. Respect for what they do, of course. I love the competition, actually: it keeps us on our toes, and consumers benefit ultimately."

He then went on to add: "We think we offer great value now. We have better service provision than anybody. We attach more effectively than anybody. I think Xbox Live’s enviable. What we’ve achieved with Kinect has given us growth that I think others would aspire to at this point in the lifecycle. We’re happy with our position. While we’re not complacent about the competition, I wouldn’t trade places."

Microsoft also stated recently that they are not backing away from the Japanese market, despite enduring lackluster sales in the region.

Via [VG247]

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