Price Cut to Sony's PS3 is Certain!

There's a bit of good news for gamers who thought Sony's PlayStation 3 to be beyond their reach...

Sony's CEO, Sir Howard Stringer, has been quoted as saying that price cuts to the PS3 are certain though the extent of price cuts is not yet known.

Stringer said that currently, they are studying the possible cut in price, and trying to refine it.

He even admitted to the intense competition from Microsoft's Xbox 360 and Nintendo's Wii gaming consoles.

He called the Wii a successful enterprise and a good business model, attributing this mainly to the cheaper price as compared to the PS3.

While Stringer has not detailed the extent of the price cut, there's buzz in the market that the PS3 price may be cut by as much as $100 before the holiday season, so as to spur fresh sales.

As of now though, the PS3 continues to be the costliest Gen-Next gaming console on the market. And, according to reports, it has proved somewhat of a burden on Sony with registering repeated poor sales as compared to other consoles.

So, maybe, as Stinger puts it, a combination of a price cut and a break out of games might help revitalize the failing market for the console...