Maguire: PS3 price won't be an issue this Xmas

Sony UK Managing Director Ray Maguire has dismissed the need for a PlayStation 3 price cut this Christmas, believing the console has a strong enough line-up to see it through the holiday season without the price becoming an issue.

"Well the pressure comes from the consumers obviously and so therefore 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,” said Maguire, during an interview with Videogamer.com at the Gamer 3.0 conference yesterday.

"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."

Maguire observed that sales of the PS3 in the UK were “absolutely on target,” further adding, “It's obviously selling extremely well in the UK and it's the third largest single territory in the world. In the UK it's absolutely on line. Obviously actual sell through is always relevant to price point. 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."

Many have questioned whether or not Sony may be pressured to cut the price of its flagship gaming console following Microsoft's recent decision to adjust the price of the Xbox 360 last month.