Sony: PS3 price cut not a reaction to slow sales

SCEE president Andrew House has said that Sony's decision to cut the price of the PS3 was not a reaction to slow system sales.

"We are aware that consumers are watching their euros and pounds more carefully than before and it may make a price reduction have potentially even more impact. But it would not be fair to say this is a reaction to current market conditions," he said.

Stressing the key role that the PlayStation Network will play in Sony's ten-year plan for the PS3, House also told the Financial Times that the company plans to make more social networking features available to owners of its flagship console.

"The goal is to move from a traditional short, toy-based life cycle to a longer, consumer electronics life cycle. The network allows us to give customers a better sense of value and continuous improvement," he said.

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