CEO and president of Konami’s North American and European division, John Yamamoto, has stated that consumers are still likely to consider the price of PlayStation 3 to be too expensive despite Sony cutting the 60GB model by USD 100.

Speaking during an interview with Gamesindustry.biz at the Electronic Entertainment Expo this week, Yamamoto observed, "We're watching the hardware trends closely and also the marketing strategy of the platform holder”, adding, "I think USD 500 for PS3 is still a bit expensive for most gamers. Most of them think that price is still high."

Sony announced the price reduction earlier this week, where the company also confirmed a new SKU in the shape of the 80GB PlayStation 3, which was previously only available in Korean territories. While there is currently no word on whether the company plan to follow similar measures in Europe, Yamamoto sees it as a wise decision.

Asked on whether he feels Sony should lower the price in Europe, he added, "Yes, because they started at USD 600 and EUR 600 - so maybe it would be better to come down to EUR 500."

Yamamoto’s comments also follow that of Konami’s Kazumi Kitaue, who questioned the significance that a USD 100 price cut would have on sales, also hinting at possible changes regarding the exclusivity of Metal Gear Solid 4. However, Yamamoto declined to comment on whether or not Square-Enix may consider releasing the Final Fantasy series across other home consoles.

A spokesperson for the company later added, "At previous E3s and other shows we've announced different Final Fantasies for different platforms, and I think that will continue." An announcement regarding the value of PlayStation 3 in Europe is expected to take place this Thursday; stay tuned for further information.