Sony Announces Lack of PS3 Price Cuts this Holiday Season

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Sony’s UK boss has announced that their $399.99 80GB PlayStation 3 will avoid a price cut unti late 2009. Ray Maguire spoke at the Gamer 3.0 conference this week in London and denounced rumors of a price drop, saying that he "has a business to run" and shareholders to please. Maguire noted that the console would not be receiving a price drop this holiday season, stating that next year would be a safe bet for the reduction. Analysts indicate that this could be due to this being the first holiday season with Blu-Ray at the forefront of DVD technology.