Sony mulls PlayStation 3 price cuts

— 1:24 PM on February 1, 2007

Even though Sony is reportedly losing at least $240 on each PlayStation 3 console it sells, the company is already thinking about cutting the console's hefty $499-599 price tag. At least that's what the company's Senior VP Takao Yuhara suggested when he talked to the Associated Press on Wednesday:

Pricing is among the factors Sony Corp. is studying as it expects to break even in its money-losing gaming business next fiscal year, said Senior Vice President Takao Yuhara, stressing that no additional price cut has been decided.

"We may look at the price as part of our strategy to expand the market when the timing is right," Yuhara told reporters at Sony's Tokyo headquarters.

A price cut probably wouldn't be kind to Sony's finances, though. The company currently expects losses of about 200 billion yen ($1.65 billion) from its gaming division for the fiscal year through March, and Yuhara says the losses could be even greater than anticipated because of unexpected advertising and shipping costs.
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